2020-05-26T14:00:22-05:00 2019-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2018-07-01 350868152 Saint Joseph's College SAIN 2198666000 1214 Tonner Road PO Box 300 Rensselaer IN 47978 Father Larry Hemmelgarn CHAIR 2020-05-26 true Jennifer Burke P01342224 3128997000 2018 2020-09-23 17:36:50Z X Father Larry Hemmelgarn 1214 Tonner Road PO Box 300 Rensselaer IN 47978 25245232 false X www.saintjoe.edu X 1889 IN AS OF 6/30/17, THE COLLEGE SUSPENDED ALL ACADEMIC OPERATIONS DUE TO FINANCIAL CHALLENGES. THE COLLEGE CONTINUES TO EVALUATE ALL POTENTIAL FUTURE REVENUE GENERATING ACTIVITY WHICH COULD ENABLE IT TO RESUME EDUCATIONAL ACTIVITIES AT SOME TIME IN THE FUTURE. THE COLLEGE LAUNCHED A THREE YEAR CONTRIBUTION CAMPAIGN CALLED "CORE 128" TO RAISE NEARLY $4M IN THE HOPES OF ALLOWING THE COLLEGE TO CONTINUE FURTHERING THE MISSION THAT IT HAS FAITHFULLY UPHELD FOR OVER 100 YEARS OF PROVIDING AN EDUCATION THAT STRIVES TO PREPARE MEN AND WOMEN TO LEAD SUCCESSFUL PROFESSIONAL AND PERSONAL LIVES CONSISTENT WITH THE GOSPEL VALUES. 11 11 22 15 0 0 622437 14199443 0 51102 1428913 78235 3451990 2619257 5503340 16948037 0 0 0 2936486 1060659 0 0 322885 3610918 1453990 6547404 2514649 -1044064 14433388 90088909 77905751 34614649 9258283 55474260 68647468 AS OF 6/30/17, THE COLLEGE SUSPENDED ALL ACADEMIC OPERATIONS DUE TO FINANCIAL CHALLENGES. THE COLLEGE CONTINUES TO EVALUATE ALL POTENTIAL FUTURE REVENUE GENERATING ACTIVITY WHICH COULD ENABLE IT TO RESUME EDUCATIONAL ACTIVITIES AT SOME TIME IN THE FUTURE. THE COLLEGE LAUNCHED A THREE YEAR CONTRIBUTION CAMPAIGN CALLED "CORE 128" TO RAISE NEARLY $4M IN THE HOPES OF ALLOWING THE COLLEGE TO CONTINUE FURTHERING THE MISSION THAT IT HAS FAITHFULLY UPHELD FOR OVER 100 YEARS OF PROVIDING AN EDUCATION THAT STRIVES TO PREPARE MEN AND WOMEN TO LEAD SUCCESSFUL PROFESSIONAL AND PERSONAL LIVES CONSISTENT WITH THE GOSPEL VALUES. false false 1479636 76953 THE ACTIVITIES OF THE COLLEGE IN FYE 2019 CONSISTED OF SETTLEMENT OF DEBTS WITH VENDORS FROM PRIOR TO SUSPENSION, HIRING A CERTIFICATION PROGRAM DIRECTOR TO BUILD AND LAUNCH A CERTIFICATION PROGRAM, AND EXPLORING EDUCATIONAL COLLABORATING OPPORTUNITIES WITH OTHER EDUCATIONAL INSTITUTIONS TO FURTHER THE MISSION OF THE ORGANIZATION. 1479636 true true false false true true false false true true false false false true false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 8 0 true 22 true true true false false false false true true true false false false false false false false false X 11 11 false false false false true false true true true false false true true true true true true false false false IN X Father Larry Hemmelgarn 2198666000 1214 Tonner Road PO Box 300 Rensselaer IN 47978 FR LARRY HEMMELGARN CHAIR 15.0 X X 0 0 0 MICHAEL VAN EEKEREN VICE CHAIR 1.0 X X 0 0 0 MATTHEW MCKILLIP TREASURER 1.0 X X 0 0 0 MELINDA BEIER SECRETARY 1.0 X X 0 0 0 Bishop Timothy Doherty Trustee (through JULY 2018) 1.0 X 0 0 0 Fr William O'Donnell CPPS Trustee 1.0 X 0 0 0 Mara Davis Trustee (through OCT 2018) 1.0 X 0 0 0 Mark Peres CPPS Trustee 1.0 X 0 0 0 Peter Ippolito Trustee (through OCT 2018) 1.0 X 0 0 0 Stephen Dos Santos Trustee (through MAY 2019) 1.0 X 0 0 0 Fr William Stang Trustee (through Oct 2018, back on Jun 2019) 1.0 X 0 0 0 FR JEFFREY KIRCH TRUSTEES 1.0 X 0 0 0 FRANCIS SERGI TRUSTEE 1.0 X 0 0 0 JEFFREY TAYLOR TRUSTEE 1.0 X 0 0 0 EDWARD TONNER TRUSTEE 1.0 X 0 0 0 WILLIAM HOGAN Vice President for Advancement 40.0 X 122794 0 12732 THOMAS J RYAN Vice President for Academic Affairs 40.0 X 110672 0 4712 233466 0 17444 2 false false false Barnes & Thornburg LLP 888 S Harrison Street Suite 600 Fort Wayne IN 468022206 legal services 196307 Huth Thompson LLP PO Box 970 Lafayette IN 479020970 accounting fees 138051 2 16909 14182534 11182 14199443 Tuition and fees 611710 51102 51102 0 0 0 0 51102 56035 56035 2830275 224749 2605526 0 2605526 2605526 8051628 29282 8058710 0 -7082 29282 22200 22200 1616 16909 13736 -12120 -12120 Miscellaneous 900099 25851 25851 0 0 0 0 25851 16948037 76953 0 2671641 X 832500 449407 171417 211676 19434 10383 3922 5129 206546 110349 41680 54517 2179 1164 440 575 3790 3790 151146 151146 1856 1856 16682 16682 291931 42392 249539 0 258813 202073 39855 16885 19963 19963 374799 367381 7418 31165 2140 193 28832 167566 167566 Membership dues & subscriptions 2131 52 59 2020 Bad Debt 699 699 133449 126729 3469 3251 2514649 1479636 712128 322885 2623917 2005203 3387073 474983 718433 926999 197774 418581 0 0 0 1709764 0 0 249817 72708 124215088 55215042 78004906 69000046 2474438 4291522 722787 715709 0 0 0 90088909 77905751 3983572 752777 1343807 1075045 0 26473791 6477584 2813479 952877 34614649 9258283 X -23026442 -6634672 3164972 1250331 75335730 74031809 55474260 68647468 90088909 77905751 X 14433388 89060 0 0 -1349240 X false false false X 3471088 3255339 3224364 622437 1425251 11998479 0 0 3471088 3255339 3224364 622437 1425251 11998479 0 11998479 2814774 3029971 2378583 2514742 2886310 13624380 0 0 0 0 0 0 454379 432400 286542 1090388 27467 2291176 27914035 89248590 0.4298 0.475 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING INCOME, COLUMN A - 29801.0, COLUMN B - 20021.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 1616.0, COLUMN F - 51438.0; DESCRIPTION - GAMING INCOME, COLUMN A - 21099.0, COLUMN B - 24386.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 45485.0; DESCRIPTION - SALES OF INVENTORY, COLUMN A - 188930.0, COLUMN B - 172929.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 361859.0; DESCRIPTION - OTHER INCOME, COLUMN A - 214549.0, COLUMN B - 215064.0, COLUMN C - 286542.0, COLUMN D - 7329.0, COLUMN E - 25851.0, COLUMN F - 749335.0; DESCRIPTION - DEBT FORGIVENESS, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 1083059.0, COLUMN E - 0.0, COLUMN F - 1083059.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 622465 false false X X 2 345.0 1 0 0 1 false 1.0 8000 13002504 0 -7650187 0 0 0 5352317 13531590 0 1341863 0 1870949 13002504 19564536 81246 -360510 2459560 2470099 824023 13531590 24158521 103345 -697936 2850617 855835 292942 19564536 24856806 49943 224291 628072 195576 148871 24158521 0.05 0.95 0.0 false false 66785212 44582 66829794 49185996 49643356 -457360 2003455 1515329 488126 6195843 4056357 2139486 69000046 annuity contracts payable 52877 asset retirement obligations 900000 952877 Schedule D, Part II, Line 9 Conservation easements financial reporting The revenues and expenses associated with the properties subject to a conservation easement are netted together on the income statement within the appropriate revenue line. Schedule D, Part V, Line 4 Intended uses of endowment funds THE PURPOSE OF THE ENDOWMENT FUND IS TO PROVIDE FUNDS TO UNDERWRITE THE EDUCATIONAL NEEDS OF CURRENT AND FUTURE GENERATIONS OF STUDENTS WHILE ENHANCING THE WELL-BEING OF THE COLLEGE. TO SATISFY ITS LONG-TERM RATE OF RETURN OBJECTIVES, THE COLLEGE COMBINES THE GOAL OF TOTAL RETURN AND PRESERVATION OF CAPITAL WITH PRUDENT RISK TOLERANCE IN ORDER TO ALLOW INVESTMENT MANAGERS THE OPPORTUNITY TO ACHIEVE INVESTMENT RESULTS CONSISTENT WITH THE CATHOLIC VALUES OF THE COLLEGE. THE COLLEGE TARGETS A DIVERSIFIED ASSET ALLOCATION IN ORDER TO MANAGE DOWNSIDE VOLATILITY AND RISK WHILE ACHIEVING THE ENDOWMENT'S RETURN OBJECTIVES. PURPLE TIE EVENT 18525 16909 1616 589 2226 10921 0 0 18525 16909 1616 589 2226 10921 13736 -12120 Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION OF OTHER OFFICERS FOR OTHER INCOMING EXECUTIVES, COMPENSATION IS SET AFTER PERFORMING SIMILAR BENCHMARKING AND APPROVED BY THE EXECUTIVE COMMITTEE. ON AN ANNUAL BASIS, EXECUTIVE COMPENSATION IS TYPICALLY ADJUSTED IN A MANNER SIMILAR TO OTHER EMPLOYEES OF THE COLLEGE. FROM TIME TO TIME, AN ADJUSTMENT MAY BE MADE TO AN INDIVIDUAL EXECUTIVE'S COMPENSATION OUTSIDE OF THE NORMAL SALARY ADJUSTMENTS APPROVED BY THE BOARD. Because the organization did not compensate any officers during FYE 6/30/2019, this question has been answered "no" in accordance with IRS instructions. Form 990, Part VI, Line 15a The organization's Top Management Official during the fiscal year ended June 30, 2019 was Father Larry Hemmelgarn, the Chair of the Board of Directors. Father Larry was not compensated for his services in this role. Because the Top Management Official did not receive compensation in his role as Top Management Official, this question has been answered "no" in accordance with IRS instructions. Form 990, Part VI, Line 1a Delegate broad authority to a committee THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE FOLLOWING: - THE CHAIR OF THE BOARD - THE VICE CHAIR OF THE BOARD - THE PROVINCIAL DIRECTOR OR HIS DESIGNEE - THE PRESIDENT - THE CHAIRS OF THE STANDING COMMITTEES - SUCH OTHER MEMBERS OF THE BOARD AS MAY BE DESIGNATED BY THE CHAIR THE EXECUTIVE COMMITTEE SHALL ACT FOR THE BOARD IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SHALL MEET ONLY AT THE DISCRETION OF THE CHAIR. THE EXECUTIVE COMMITTEE MAY EXERCISE ALL THE POWER AND AUTHORITY OF THE BOARD OF TRUSTEES, BUT SHALL NOT HAVE THE POWER TO ELECT OR REMOVE ANY OFFICER OR APPROVE THE BUDGET, AND SHALL REPORT TO THE BOARD AT ITS NEXT MEETING. Form 990, Part VI, Line 6 Classes of members or stockholders The organization's members are those persons holding the offices of the Provincial Director and those serving on the Provincial Council of the Society of the Precious Blood (C.PP.S.), Cincinnati Province, a Roman Catholic society of apostolic life. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The following powers are reserved to the Members: A. To adopt the amendment, alteration, modification, or repeal of the Articles of Incorporation as proposed by the Board of Trustees; B. To adopt the amendment, alteration, modification, or repeal of the Bylaws of the Corporation as proposed by the Board of Trustees; C. To dissolve or terminate the existence of the Corporation and to determine the distribution of assets upon such termination or dissolution as proposed by the Board of Trustees; D. To merge, consolidate, or affiliate the Corporation with another corporation, organization, or program as proposed by the Board of Trustees; E. To approve the Mission Statement of the College or any change to the Mission Statement as proposed by the Board of Trustees. The Members also have the right to prohibit any organization or policy at the College that are inconsistent with the Catholic identity of the College. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT. Subsequent to management's review, A FINAL DRAFT OF THE FULL FORM 990, INCLUDING ALL APPLICABLE SCHEDULES, IS PROVIDED TO EACH MEMBER OF THE Board of Directors for review and commentary prior to filing with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy ANNUAL DISCLOSURE IS PROVIDED TO EACH OFFICER AND BOARD MEMBER. EACH PERSON COMPLETES AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. ONCE THE QUESTIONNAIRES ARE COMPLETED, THE PRESIDENT'S ASSISTANT REVIEWS THE RESPONSES AND DETERMINES WHETHER OR NOT THERE ARE ANY POTENTIAL CONFLICTS OF INTEREST. IF THERE IS A POTENTIAL CONFLICT OF INTEREST, THE PRESIDENT, TREASURER, AND CONTROLLER REVIEW THE CORRESPONDING ISSUE AND DETERMINE IF THERE IS AN ACTUAL CONFLICT OF INTEREST. IF AN ACTUAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, THAT PERSON IS EXCLUDED FROM ANY DISCUSSIONS CONCERNING THE CONFLICTING ISSUE AND IS NOT PERMITTED TO VOTE ON ANY DECISIONS REGARDING THE CONFLICTING ISSUE. ANY PURCHASES AND/OR BUDDING PROPOSALS ARE ALSO REVIEWED FOR ANY POTENTIAL CONFLICTS OF INTEREST PRIOR TO SUBMITTING BIDS OR MAKING PURCHASES. THE CONTROLLER ATTENDS THE BOARD MEETINGS TO ENSURE THAT COMPLIANCE WITH THESE GUIDELINES IS FOLLOWED. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. Form 990, Part IX, Line 11g Other Fees Other fees for service - Total Expense: 291931, Program Service Expense: 42392, Management and General Expenses: 249539, Fundraising Expenses: ; Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES THE FAIR VALUE OF FARM LAND WAS DETERMINED BY MANAGEMENT USING APPRAISALS, QUOTED MARKET PRICES FOR SIMILAR ASSETS OR OTHER MARKET DATA, SUCH AS THE PURDUE AGRICULTURAL ECONOMICS REPORT, WHICH IS A REPORT THAT SUMMARIZES THE RESULTS OF AN ANNUAL SURVEY OF NUMEROUS PROFESSIONALS KNOWLEDGEABLE ABOUT INDIANA'S FARMLAND MARKET. THIS REPORT SERVES TO PROVIDE INFORMATION REGARDING FARMLAND VALUES AND CASH RENT. UNREALIZED GAINS AND LOSSES ARE INCLUDED IN THE CHANGE IN NET ASSETS. Form 990, Part XI, Line 9 Other changes in net assets or fund balances UNREALIZED LOSS ON PERMANENTLY RESTRICTED FARM LAND HELD AS AN INVESTMENT - -1349240;