2018-05-15T10:13:36-05:00 2017-06-30 390859910 Baker Tilly Virchow Krause LLP 1650 Market Street Suite 4500 Philadelphia PA 191037341 990 2016-07-01 221500484 Centenary University CENT 9088521400 400 Jefferson Street Hackettstown NJ 07840 Denton L Stargel CFO 9088521400 2018-05-14 1 Julius C Green CPA P00350393 2159720701 X 2016 2022-09-23 18:48:47Z DAVID P HANEY 400 Jefferson Street Hackettstown NJ 07840 68915096 0 X www.centenaryuniversity.edu X 1867 NJ Centenary U. offers post- secondary degrees from associate through masters degrees and beyond. 30 30 1007 170 271694 -19733 2365630 2596039 38016252 56356404 604727 130100 1043888 2281052 42030497 61363595 0 20114732 0 0 21506478 23321830 0 0 2059248 22157198 23861746 43663676 67298308 -1633179 -5934713 92528942 93235010 41791878 46175369 50737064 47059641 X Centenary University is an Independent university offering bachelor and associate degree programs in liberal arts and career areas; master degree programs in business administration, counseling and education; and an EdD in Educational Leadership. Certification programs are also offered. 0 1 45438344 20094043 48272036 Instructional - Centenary University is a community of learners distinguished by a diverse student body, a dedicated faculty and staff and stimulated education opportunities. Centenary University is committed to quality liberal arts and career studies education with a substantial international dimension 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 and professional programs, as well as non-degree courses for professional and personal development. 4253952 20689 8084368 The auxiliary services at Centenary University are organized to support certain student activities and provide student housing and other facilities and services for the benefit of the campus of Centenary University. University Dormitories (consisting of 8 residence halls and 2 houses) provide living quarters for approximately 760 students. Auxiliary services also provides recreational facilities, dining services, parking and other self-supporting faculty, staff and student services. 49692296 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1059 0 1 1007 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X DENTON L STARGEL CFO 9088521400 400 JEFFERSON STREET HACKETTSTOWN NJ 07840 Wolfgang Gstattenbauer Chairman 2.00 X X 0 0 0 Kenneth Lee Hahn 1st Vice Chairperson 2.00 X X 0 0 0 Norman Worth 2nd Vice Chairperson 2.00 X X 0 0 0 Christopher Treanor 3rd Vice Chairperson 2.00 X X 0 0 0 Lucenda Thomas Embersits Secretary 2.00 X X 0 0 0 David Johnson Treasurer 2.00 X X 0 0 0 Susan Bateman Esq Trustee 2.00 X 0 0 0 Audrey Bonaparte-Watts Trustee 2.00 X 0 0 0 Dr Howard Burrell trustee 2.00 X 0 0 0 Dr Stanley Caine trustee 2.00 X 0 0 0 Michael T Catapano trustee 2.00 X 0 0 0 David D Dallas trustee 2.00 X 0 0 0 Rev Dr Frank L Fowler III trustee 2.00 X 0 0 0 Elizabeth Friday-Skoda trustee 2.00 X 0 0 0 Michael B Lavery Esq trustee 2.00 X 0 0 0 Rochelle Makela-Goodman trustee 2.00 X 0 0 0 Merri Millman trustee 2.00 X 0 0 0 Dr Rosalind Reichard trustee 2.00 X 0 0 0 Jim salerno trustee 2.00 X 0 0 0 Bishop John R Schol trustee 2.00 X 0 0 0 Steve Somers trustee 2.00 X 0 0 0 James D Stryker trustee 2.00 X 0 0 0 Linda Van Winkle Watkins trustee 2.00 X 0 0 0 Bryan Watkinson trustee 2.00 X 0 0 0 Dr Edward Yaw trustee 2.00 X 0 0 0 alden siegel trustee 2.00 X 0 0 0 RAYMOND NISIVOCCIA TRUstee 2.00 X 0 0 0 JIM STRYKER TRUStee 2.00 X 0 0 0 JASON COE TRUStee 2.00 X 0 0 0 VALERIE WILSON TRUStee 2.00 X 0 0 0 Roger Anderson CFO/COO 40.00 X 189813 0 19182 James Patterson Provost 40.00 X 194790 0 12231 John Carno Vice President 40.00 X 108191 0 12920 David P Haney President (began 7/1/16) 40.00 X 142198 0 47258 DR BARBARA LEWTHWAITE PRESIDENT (UNTIL 8/16) 40.00 X 187698 0 12763 Virgina Galdieri Executive Director HR 40.00 X 124211 0 11835 Robert Miller VP, Enrollment Management 40.00 X 127114 0 13899 James Robinson Controller 40.00 X 120671 0 5029 deirdre christofalo VP online education 40.00 X 134785 0 10246 dr harriet gaddy Professor 40.00 X 112149 0 9545 1441620 0 154908 16 0 1 0 Chartwell Dinning PO Box 417632 Boston MA 022417632 Food Service 2343701 National Management Resources PO Box 1224 Lagrange GA 30241 Maintenance Services 1574127 DCW Advertising 895 Maconi Avenue Ronkonkoma NY 11779 Advertising 641042 Robert Ferrilli LLC 41 South Haddon Avenue Haddonfield NJ 08033 Information Technology Services 587594 robert j faucett jr 122 MAIN STREET FLEMINGTON NJ 08822 CONSTRUCTION SVCS. 372187 21 5000 226448 2364591 1090180 2596039 Tuition 611600 48240474 48240474 Room and Board 611600 7279363 7279363 Auxiliary Income 611600 805005 805005 College Radio Station 515112 31562 31562 56356404 264384 264384 102808 45042 57766 57766 57766 7372175 7289934 216525 82241 -216525 -134284 -134284 INSURANCE PROCEEDS 611310 1000000 1000000 Summer Youth Camp 721214 615204 271694 343510 Advanced Payments 611310 296007 296007 312075 312075 2223286 61363595 56356404 271694 2139458 20689 20689 20094043 20094043 703371 421948 271705 9718 18330986 10996644 7081065 253277 878102 355539 511980 10583 1710221 795911 898273 16037 1699150 766352 918153 14645 74725 74725 85501 85501 50681 50681 3744556 951949 1075494 1717113 1184491 75296 1109195 727046 499856 215791 11399 710972 105352 605620 2295869 1709728 573879 12262 334246 295746 38220 280 88288 78016 10272 1953982 1953982 4291641 3695245 596396 1093776 641219 452557 Food Service 2564889 2564889 Bad Debt 873554 873554 Equine Prog. Expenses 868014 868014 CPAG Expenses 688846 688846 2230669 1239478 977257 13934 67298308 49692296 15546764 2059248 975201 3928721 2508954 882441 663454 2733499 2162018 0 0 1026207 1006444 41160 41497 624119 579462 111141077 40797257 67193251 70343820 14381169 13309594 1054758 0 0 1108183 1200000 92528942 93235010 2240955 3073191 0 1314820 33751374 1234199 305006 197599 0 0 35841266 0 4050777 4179723 1778337 41791878 46175369 X 45704280 41334814 1008097 1466882 4024687 4257945 50737064 47059641 92528942 93235010 X -5934713 1338627 918663 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10727935 526577 1516140 528052 12242600 10603214 723925 -192385 406819 0 0 10727935 10352059 219248 266750 234843 10603214 3336934 6170140 962908 117923 10352059 2828897 72787 548306 113056 3336934 0.58000 0.35000 0.07000 0 0 2957315 2957315 85724509 32746790 52977719 526058 18086 507972 10813880 6284037 4529843 11119315 1748344 9370971 70343820 Refundable loan programs 1110155 Asset Retirement Obligation 70875 Charitable Gift Annuity Liab. 597307 1778337 X 42883552 1338627 -19863712 -18525085 61408637 -45042 -45042 61363595 46560975 55042 55042 46505933 20792375 20792375 67298308 Part IV, Line 1b: 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 a certain sum of money that will be returned if there is no damage to his or her room. In addition another common type of account is a club account. Deposits would come from dues or proceeds from sales or events. Expenditures would be authorized club/organization expenses. Part IV, Line 2b: Custodial accounts are set up for student organizations that raise money to fund club activities (i.e., t-shirts, snacks, and so forth). Also, accounts are set up for departments that collect money from students to pay State Examination fees to the Dept. of Education in one check. Part V, Line 4: The University's endowment funds are held to support the educational programs of the University. The University intends to leave the principal untouched and use the earnings to defray instructional expenditures, academic support, student aid and other institutional expenses that may arise. The University shall not use these funds for any purpose that is not consistent with the University's exempt status. Part X, Line 2: The University 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. Management determined there were no tax uncertainties that met the recognition threshold at June 30, 2017 and 2016. The University'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: CHANGE IN VALUE OF INTEREST RATE SWAP 928,663. FINANCIAL AID -20,094,043. investment fees -50,681. loss on refinancing -647,651. Part XI, Line 4b - Other Adjustments: Rental Expenses -45,042. Part XII, Line 2d - Other Adjustments: Rental Expenses 45,042. Uncollectible Pledges 10,000. Part XII, Line 4b - Other Adjustments: financial aid 20,094,043. investment fees 50,681. LOSS ON REFINANCING 647,651. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The University meets the requirement of Subsection 4.03; consequently, this section does not apply. The College fits the description of 2B. Schedule E, Part I, Line 6 The University receives such financial aid as PELL, SEOG, Direct Lending and participates in the Perkins Loan program. Central America and the Caribbean 0 0 PROGRAM SERVICES EDUCATIONAL SERVICE TRIP 14000 0 0 0 0 0 0 14000 0 14000 0 0 0 0 0 0 1 Financial Aid 1278 20094043 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 G-5, TRACKING FEDERAL AUTHORIZATION, DETERMINING MATCHING REQUIREMENTS, AND TRACKING MONIES THROUGH G-5 AS WELL AS ALL PROGRAM RECONCILIATIONS. THE STUDENT BILLING OFFICE APPLIES PAYMENTS TO STUDENTS' ACCOUNTS. THIS SHARED APPROACH ALLOWS FOR SEGREGATION OF DUTIES BETWEEN THE DETERMINATION OF AWARDS AND THE PHYSICAL HANDLING OF CASH PAYMENTS. X X 1 0 X X X 1 0 0 0 0 0 0 0 0 Roger Anderson CFO/COO 189813 0 0 0 0 0 11377 0 7805 0 208995 0 0 0 James Patterson Provost 194790 0 0 0 0 0 11560 0 671 0 207021 0 0 0 David P Haney President (began 7/1/16) 142198 0 0 0 0 0 8250 0 39008 0 189456 0 0 0 DR BARBARA LEWTHWAITE PRESIDENT (UNTIL 8/16) 187698 0 0 0 0 0 11250 0 1513 0 200461 0 0 0 Part I, Line 1a The President is provided use of a house owned by the University. The related services such as facilities, maintenace, and housekeeping are provided by the University. THE HOUSING IS TREATED AS A NONTAXABLE BENEFIT. Part I, Line 4a the orgANIZATION PAID rOGER ANDERSON SEVERANCE BEGINNING IN MAY 2017. THE SEVERANCE PAY IS NOT REFLECTED ON THIS SCHEDULE'S COMPENSATION AS THE SEVERANCE WAS NOT PAID DURING THE 2016 CALENDAR YEAR. X 3 21673 nyse X horses 16 1068507 Certified Appraisal 16 0 1 0 Part I, Column (b): The amount in column B is the number of contributors. Form 990, Part III, line 3 the orgnanization sold the broadcast license for its radio station and no longer considers it a separate program. the orgnanization does maintain an internet presence, however. Form 990, Part VI, Section B, line 11b THE FORM 990 IS REVIEWED INTERNALLY AND THEN PRESENTED THE AUDIT COMMITTEE AND THE BOARD FOR APPROVAL. THE FULL BOARD WILL RECEIVE 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". THIS IS MONITORED BY BUSINESS AND FINANCE AND HUMAN RESOURCES. KEY ITEMS REVIEWED INCLUDE ASKING IF THE PERSON OR MEMBER OF THEIR FAMILY HAS BUSINESS DEALINGS WITH THE UNIVERSITY OR ORGANIZATIONS AFFILIATED WITH THE UNIVERSITY. IF A CONFLICT IS DETERMINED TO EXIST, IT IS RESOLVED ACCORDINGLY, WHICH INCLUDES ENSURING THE INDIVIDUAL IS EXCUSED FROM DISCUSSION ON ANY MATTERS ASSOCIATED WITH THE CONFLICT. 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, as well as considerations of fiscal and managerial responsibilities. The proposed compensation is presented to the Board of Trustees Compensation Committee for Approval and recommendation to the Board of Trustees for final approval. Members of the Boards' Compensation Committee are independent persons that 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, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW, UPON REQUEST SUBMITTED THROUGH THE FINANCE DEPARTMENT, ATTN: DENTON L. STARGEL, CFO, 400 JEFFERSON STREET, HACKETTSTOWN, NJ 07840. Form 990, Part XI, line 9: Change in value of interest rate swap 928,663. uncollectible pledges -10,000. CENTENARY EQUESTRIAN FOUNDATION 400 jefferson street jackettstown NJ 07940 475219553 equestrian activities NJ 0 55935036 centenary university 1 1 1 1