2018-03-27T12:18:16-05:00 2017-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2016-07-01 231627436 Peirce College % ELIZABETH KRAPP PEIR 8884673472 1420 Pine Street Philadelphia PA 19102 ELIZABETH KRAPP VP, FINANCE & ADMIN 2156709128 2018-03-27 true Frank Giardini P00532355 2155614200 209.220.136.124 23695320180865000012 2018-03-27 P F9DA08CF6491D49784EF75DB2DB7A7178F639E28 04723B140884A68F403C8436F180167607B0B333 2016 2021-01-29 14:40:06Z Elizabeth Krapp 1420 Pine Street Philadelphia PA 19102 26053288 false X www.peirce.edu X 1963 PA PEIRCE COLLEGE IS A PRIVATE SPECIALIZED INSTITUTION OFFERING CAREER ORIENTED PROGRAMS TO NON-TRADITIONAL COLLEGE STUDENTS OFFERING ASSOCATES, BACHELORS, MASTER'S DEGREE. 24 24 312 26 0 0 6407883 5440849 20031053 19122528 557520 820293 131877 162292 27128333 25545962 7969629 7508548 0 0 12877738 12201084 0 0 601850 7293555 6612328 28140922 26321960 -1012589 -775998 36936082 40062728 8581374 10531609 28354708 29531119 X Peirce College is in the business of transforming lives. We do so by making the benefits of higher education accessible and attainable to non-traditional college students of all ages and backgrounds. We educate, empower, and inspire our students and one another in a highly professional, career-focused academic environment defined by trust, integrity, and mutual respect. We are passionate about equipping our students to make a difference in their communities, workplaces, and the world. false false 20286279 7508548 19122528 FOUNDED IN 1865, PEIRCE COLLEGE IS A PRIVATE, SPECIALIZED INSTITUTION PROVIDING PRACTICAL LEADING-EDGE CURRICULA TO PRIMARILY WORKING ADULT LEARNERS. THE COLLEGE AWARDS THE MASTER OF SCIENCE IN ORGANIZATIONAL LEADERSHIP AND MANAGEMENT, the master of science in health care administration, and THE BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES. THE DEGREE PROGRAMS ARE IN ACCOUNTING, BUSINESS ADMINISTRATION, CRIMINAL JUSTICE, GENERAL STUDIES, HEALTH INFORMATION ADMINISTRATION, HEALTH INFORMATION TECHNOLOGY, HEALTHCARE ADMINISTRATION, HUMAN RESOURCE MANAGEMENT, INFORMATION TECHNOLOGY AND PARALEGAL STUDIES. PEIRCE COLLEGE OFFERS ITS PROGRAMS UTILIZING TWO INTERCHANGEABLE DELIVERY FORMATS: ON CAMPUS AT ITS CENTER CITY PHILADELPHIA LOCATION AND ONLINE THROUGH WEB BASED DISTANCE LEARNING. PEIRCE COLLEGE IS ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION. THE BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES AND THE CERTIFICATE OF PROFICIENCY IN PARALEGAL STUDIES ARE RECOGNIZED AND APPROVED BY THE AMERICAN BAR ASSOCIATION (ABA). THE ACCREDITATION COUNCIL FOR BUSINESS SCHOOLS AND PROGRAMS (ACBSP) ACCREDITS PEIRCE COLLEGE'S BACHELOR OF SCIENCE AND ASSOCIATE IN SCIENCE DEGREES AND CERTIFICATES OF PROFICIENCY IN BUSINESS ADMINISTRATION AND ACCOUNTING. 20286279 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 2570 0 true 312 true false false false false false false false false false false X 24 24 true false false false false false false true true false false true true true true true true true true false X ELIZABETH KRAPP 2156709128 1420 PINE STREET Philadelphia PA 19102 William H Morgan Vice Chair 1.0 0.0 X X 0 0 0 Margaret E Sofio Vice Chair 1.0 0.0 X X 0 0 0 Barbara A Prutzman Board Chair 1.0 0.0 X X 0 0 0 Marc D Ammaturo Board Member 1.0 0.0 X 0 0 0 Joseph F Barstys Board Member 1.0 0.0 X 0 0 0 Lynette W Black Board Member 1.0 0.0 X 0 0 0 Toni Pergolin Board Member 1.0 0.0 X 0 0 0 Peter A Caputo Board Member 1.0 0.0 X 0 0 0 Lisa A Curran Board Member 1.0 0.0 X 0 0 0 Keith Daviston Board Member 1.0 0.0 X 0 0 0 Alphonso Dinson Board Member 1.0 0.0 X 0 0 0 Mark Edwards Board Member 1.0 0.0 X 0 0 0 Robert G Grasso Board Member 1.0 0.0 X 0 0 0 Tom Karinshak Board Member 1.0 0.0 X 0 0 0 Robert J Scullin Board Member 1.0 0.0 X 0 0 0 Lisa S Walker Board Member 1.0 0.0 X 0 0 0 Scott D Smith Board Member 1.0 0.0 X 0 0 0 Gerardo Monroy Board Member - end 6/8/17 1.0 0.0 X 0 0 0 Sharmain Matlock-Turner Board Member 1.0 0.0 X 0 0 0 Kathryn McCluskey Board Member 1.0 0.0 X 0 0 0 Ken Sickles Board Member - end 5/5/17 1.0 0.0 X 0 0 0 David Silverman Board Member 1.0 0.0 X 0 0 0 Renee Byng Yancey Board Member 1.0 0.0 X 0 0 0 Thomas McLaughlin Board Member 1.0 0.0 X 0 0 0 Brian Swift Board Member 1.0 0.0 X 0 0 0 Lawrence Scanlan Board Member 1.0 0.0 X 0 0 0 James J Mergiotti President and CEO 40.0 0.0 X 309765 0 34530 Elizabeth M Krapp VP Finance/Administration 40.0 0.0 X 180599 0 25910 Tara McBride Board Secretary 40.0 0.0 X 71207 0 5037 Brad K Hodge VP of Student Services 40.0 0.0 X 146230 0 17740 Rita Toliver VP of Academic Advancement 40.0 0.0 X 176955 0 41687 Lisa Paris VP of Marketing & Admissions 40.0 0.0 X 144807 0 30944 Uva C Coles VP Institutional Advancement 40.0 0.0 X 143315 0 30846 Harriet Golen VP of Human Resource 40.0 0.0 X 136178 0 33404 Adrian Zappala Dean of Graduate Studies 40.0 0.0 X 138932 0 29595 James Burns Chief Information Officer 40.0 0.0 X 129929 0 19939 Jonathan Lenrow Assoc Dean of AC OPS & FAC SUP 40.0 0.0 X 129150 0 14786 1707067 0 284418 20 false true false Allied Barton Security Services 161 Washington Street Suite 600 CONSHOHOCKEN PA 19428 Security 301111 Hamelin Media 525 Righters Ferry Road BALA CYNWYD PA 19004 Advertising 920753 Insight Global PO Box 198226 ATLANTA GA 30384 Staffing 209230 3 5010105 430744 5440849 TUITION AND FEES 812900 19122528 19122528 19122528 588813 588813 0 0 75510 75510 0 75510 75510 738806 507326 231480 231480 231480 0 0 0 0 0 0 0 0 0 BOOKSTORE 812900 51309 51309 VENDING FEES 812900 4267 4267 ALL OTHER 812900 31206 31206 86782 25545962 19122528 982585 0 7508548 7508548 0 0 1027596 619217 346279 62100 0 8104239 6178063 1624089 302087 377399 276537 83577 17285 1985606 1351751 597621 36234 706244 499012 167412 39820 0 86543 86543 141411 141411 0 0 16077 16077 1059697 172003 862300 25394 797139 797139 168936 65278 93808 9850 349240 217105 132135 0 252737 147691 85472 19574 62710 33564 28158 988 0 40544 34215 6178 151 0 0 1184990 983542 188413 13035 209576 1388 208188 PROVISION FOR LOSSES ON A/R 880590 880590 MAINTENANCE & TECHNOLOGY 1066618 411159 621642 33817 PRINTING 92175 8003 64552 19620 MEALS, BANQUETS & EVENTS 102966 38526 49320 15120 100379 62948 30656 6775 26321960 20286279 5433831 601850 X 0 112727 491070 1287965 540578 390077 1094503 1470397 0 0 0 0 0 0 0 0 107681 199612 34120146 23492790 10969667 10627356 22086368 25716489 1536192 147641 0 0 0 0 110023 110464 36936082 40062728 736397 1513661 0 0 501198 1166554 0 0 0 0 0 0 2036498 3145353 1459285 1334452 3847996 3371589 8581374 10531609 X 25094093 26876155 3025193 2245179 235422 409785 28354708 29531119 36936082 40062728 X -775998 1948808 3601 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 251810 758155 13863 996102 253476 -1391 275 251810 238688 12116 2946 274 253476 223222 15731 265 238688 163182 54000 6390 350 223222 0.08260 0.26790 0.64950 true false 27670 27670 18297283 9766292 8530991 15795194 13726499 2068695 10627356 0 REIMBURSEMENT CONTINGENCY 3371589 3371589 X 19989822 1948808 3601 1952409 18037413 7508549 7508549 25545962 18813411 18813411 7508549 7508549 26321960 Investment Earnings, Gains, and Losses Schedule D, Part V, Line 1c Management reclassified net assets to record certain prior year endowment gifts. These reclassifications are reflected in the increased amount of net investment earnings, gains, and losses on Schedule D, Part V, Line 1c activities. Intended Uses of Endowment Funds Schedule D, Part V, Line 4 THE COLLEGE'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED and board designated FUNDS TO BE HELD IN PERPETUITY, WITH INCOME BEING USED for scholarships, operating expenses, and faculty awards. Organization's Liability for Uncertain Tax Positions under FIN 48 Schedule D, Part X, Line 2 - Other Liabilities The College has been granted tax-exempt status as a nonprofit organization under Section 501(c)(3) of the internal revenue code and, accordingly, files Federal Tax Form 990 (return of organization; exempt from income tax) annually. The College recognizes or derecognizes tax provisions based on a "more likely than not" threshold. This threshold applies to positions taken or expected to be taken in a tax return. The College does not believe its financial statements includes any material uncertain tax positions. Other amount appearing in reconciliation of revenues Schedule D, Part XI, Line 2D Change in beneficial interest in trust held by third party $3,601 Schedule D, Part XI, Line 4B Pell/SEOG/PHEAA Grants: $4,497,279 Scholarships: $3,011,270 ---------- $7,508,549 Other amount appearing in reconciliation of expenses Schedule D, Part XII, Line 4B Pell/SEOG/PHEAA Grants: $4,497,279 Scholarships: $3,011,270 ---------- $7,508,549 true true true true true true true false false false false false false false false true false true Publication of Racially Non Discriminatory Policy Schedule E, Part I, Line 3 Peirce College gives Scholarships and Grants to Students based upon financial need and academic excellence. The selection of recipients is made based upon objective criteria. No one is discriminated against based upon race, religion, gender, ethnic background, age, handicap, status as a disabled veteran, or any other reason. Government Assistance Schedule E, Part I, Line 6a Peirce College received assistance from the U.S. Department of Education for the following programs: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Work Study, The Carl D. Perkins Career and Technical Education Grant, and the Predominantly Black Institutions Programs Formula Grant. Peirce College also received institutional assistance grant and Pennsylvania State Grant from the Pennsylvania Higher Education Assistance Agency. true Federal Pell Grants 1253 3468750 Federal SEOG 190 174906 Unrestricted 580 2736662 Restricted by Donors 80 274607 Pennsylvania State Grant 473 853623 Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 All Financial Aid grants are used for the intended purpose which is to provide aid to students with financial need to cover the students' cost of attendance. These grants include Federal Pell Grants, Federal SEOG Grants, and State PHEAA Grants. The College also awards donor restricted grants that are provided from foundations, alumni scholarship donations, and other donors. Additionally, the college provides internal institutional grants to eligible students. These grants are awarded by the financial aid office and posted to the eligible students accounts by the business office. These accounts are reconciled by the business office and financial aid office on a monthly basis. The financial aid office complies with the U.S. Department of Education guidelines as well as any donor restricted grant guidelines. The financial aid office reports student grant awards to the U.S. Department of Education and PHEAA throughout the year and also submits the required annual FISAP report to the U.S. Department of Education. An annual A-133 Audit (Financial Statements and report of Independent Certified Public Accounts in accordance with OMB Circular A-133) is conducted by the colleges' external independent auditors. X X X X false true false false false false false false false James J Mergiotti President and CEO 295029 0 0 0 14736 0 15900 0 18630 0 344295 0 0 0 Elizabeth M Krapp VP Finance/Administration 180599 0 0 0 0 0 10854 0 15056 0 206509 0 0 0 Brad K Hodge VP of Student Services 146230 0 0 0 0 0 8762 0 8978 0 163970 0 0 0 Rita Toliver VP of Academic Advancement 166955 0 10000 0 0 0 9720 0 31967 0 218642 0 0 0 Lisa Paris VP of Marketing & Admissions 144807 0 0 0 0 0 8680 0 22264 0 175751 0 0 0 Uva C Coles VP Institutional Advancement 143315 0 0 0 0 0 8587 0 22259 0 174161 0 0 0 Harriet Golen VP of Human Resource 136178 0 0 0 0 0 8161 0 25243 0 169582 0 0 0 Adrian Zappala Dean of Graduate Studies 138932 0 0 0 0 0 7473 0 22122 0 168527 0 0 0 Supplemental Nonqualified Retirement Plan Schedule J, Part I, Line 4b No amounts were paid out of the supplemental nonqualified retirement plan in the year ended June 30, 2017. James J. Mergiotti is a plan participant. Business Relationships Form 990, Part VI, Section A, Line 2 Margaret Sofio and Katherine McLuskey have a business relationship. Form 990 Review Process Form 990, Part VI, Line 11B The Form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. The form is then submitted to an audit, risk & compliance management committee of the board for approval. A copy of the draft 990 is then circulated to the full board of trustees for discussion and comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12C The College requires each employee including the President/CEO and other key employees to complete and sign a written conflicts of interest statement that includes questions that can determine if the employee has a relationship, financial interest or business affiliation that results in a conflict of interest. These statements are completed annually by the employee and at any time an employee becomes aware of facts which require an additional or updated disclosure. These statements are returned to Human Resources for review and if necessary further action may be required. The College also requires each trustee including trustee officers to complete and sign a conflict of interest questionnaire that can determine if the trustee has a relationship, financial interest or business affiliation that results in a conflict of interest. These questionnaires are completed annually by each trustee and returned to the board secretary and are reviewed by the office of the President and if necessary further action may be required. If a conflict of interest is identified, the following procedures are followed: (A) An interested person may take a presentation at a board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the business relationship involving the possibleconflict of interest. (B) The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to that proposed business relationship. (C) After exercising due diligence, the board or committee shall determine whether the college can obtain with reasonable efforts a more advantageous business relationship from a person or entity that would not give rise to a conflict of interest. (D) If a more advantageous business relationship is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested trustees whether the business relationship is in the college's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the business relationship. Process for Determining Compensation Form 990, Part VI, Line 15A The compensation for the president of Peirce College was based on the work done in 2014 by an outside consulting firm commissioned by the board of trustees. The compensation data was compiled using information from other colleges and universities as a guide in determining the compensation of the president. Process for Determining Compensation Form 990, Part VI, Line 15B The compensation for the key employees of peirce college was determined by local and regional market surveys and information and data from local and regional publications and papers. This information, along with internal equity, determine the basis hire-in salary of key employees. Annually, key employees are evaluated by the president using a performance management document (PMD) which is standard review used by all managers throughout the college. This process also determines the percent of merit increases received. The merit increase percentages are determined as part of the budget process and the level of percentage increases given to the key employees is based on the scoring outcome of their PMD. Once the merit increases for the key employees are determined and approved by the president, the board of trustees is informed of the increases. How Documents are Made Available to the Public Form 990, Part VI, Line 19 The College makes its form 990 available to the public by reserving a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The organization's governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management discretion. Other Changes in Net Assets or Fund Balance Form 990, Part XI, Line 9 Change in beneficial interest in trust held by third party $3,601 Reimbursement Policy Form 990, Part X During fiscal year 2011, the college accrued an amount related to a contingency for a potential reimbursement due to a commonwealth of Pennsylvania agency. In June 2017, the college negotiated a reimbursement amount. The negotiated reimbursement will be repaid over three years, starting in fiscal year 2018. The college has presented the full liability of $3,371,589 in other liabilities on the statement of financial position. The first payment was remitted on October 27, 2017.