2018-03-12T13:34:51-05:00 2017-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2016-07-01 233030893 PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION PENN 2157801240 8360 OLD YORK ROAD ELKINS PARK PA 19027 DONALD KATES VICE PRESIDENT FOR FINANCE 2157801240 2018-03-06 1 KAREN GRIES P00078514 2156433900 67.137.57.251 2018-03-06 13:48:57 CS P EB5B0B88F5DF23A80CA306F7B03D11E28B72914C 71B6B54607D4F6412FF8E17B7CDA44D511B35E8F 2016 2021-01-29 14:40:06Z DR MICHAEL MITTELMAN 8360 OLD YORK ROAD ELKINS PARK PA 19027 6215154 0 X WWW.SALUS.EDU X 1999 PA TO SUPPORT THE MISSION OF ITS PARENT ORGANIZATION, SALUS UNIVERSITY, THROUGH FUNDRAISING ENDEAVORS AND THE HOLDING OF INVESTMENTS. 9 7 0 8 0 0 411855 679981 0 0 2891743 1866528 -812838 -9493 2490760 2537016 100444 739764 0 0 0 0 0 0 0 606786 644176 707230 1383940 1783530 1153076 40647403 46300015 2908892 3673939 37738511 42626076 THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT THE EDUCATIONAL MISSION OF ITS PARENT ORGANZATION, SALUS UNIVERSITY, THROUGH FUNDRAISING ENDEAVORS AND THE HOLDING OF INVESTMENTS. 0 0 905716 739764 0 SUPPORT THE ONGOING EDUCATIONAL OPERATIONS OF SALUS UNIVERSITY. IN THIS REGARD, THE FOUNDATION'S SOLE PROGRAM IS TO RAISE FUNDS TO PROVIDE STUDENT SCHOLARSHIPS, RESEARCH, INDIGENT PATIENT CARE AND INSTITUTIONAL SUPPORT. 905716 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 1 0 0 0 1 1 0 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 X 9 7 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 PA X DONALD KATES 2157801240 8360 OLD YORK ROAD ELKINS PARK PA 19027 JO SURPIN CHAIR 1.00 1.00 X X 0 0 0 DAN ABRAMOWICZ VICE PRESIDENT 1.00 1.00 X X 0 0 0 CRAIG CASSEY SECRETARY 1.00 1.00 X X 0 0 0 JANE SCACCETTI TREASURER 1.00 1.00 X X 0 0 0 CARL POLSKY TREASURER 1.00 1.00 X 0 0 0 MARK BOAS DIRECTOR 1.00 1.00 X 0 25464 0 KEITH IGNOTZ DIRECTOR 1.00 1.00 X 0 0 0 CHIP MARSHALL DIRECTOR 1.00 1.00 X 0 0 0 THOMAS LEWIS EXECUTIVE DIRECTOR 1.00 0.00 X 0 136640 11340 DR MICHAEL H MITTELMAN PRESIDENT 2.00 45.00 X X 0 327608 29381 DONALD KATES VP FINANCE 1.00 45.00 X 0 194501 35334 0 684213 76055 0 0 1 0 SALUS UNIVERSITY 8360 OLD YORK ROAD ELKINS PARK PA 19027 MANAGEMENT SERVICES 255000 HIRTLE CALLAGHAN CO 300 BARR HARBOR DRIVE SUITE 500 CONSHOHOCKEN PA 19428 CONSULTING 223224 2 129629 550352 6015 679981 1012181 1012181 4532485 3678138 854347 854347 854347 10285 129629 0 10285 10285 45000 0 45000 45000 NON-OPERATING LOSSES 900099 -64778 -64778 -64778 2537016 0 0 1857035 630420 630420 109344 109344 255000 255000 223224 223224 RESEARCH 78689 78689 INSTITUTIONAL SUPPORT 55248 55248 PATIENT CARE 32015 32015 1383940 905716 478224 0 1437677 2246322 558659 161642 38651067 43412310 0 479741 40647403 46300015 12868 13743 29325 2896024 3630871 2908892 3673939 X 30143006 33871787 3425633 4425118 4169872 4329171 37738511 42626076 40647403 46300015 1153076 3734489 0 X 0 1 X 1 1 1 X X 1 SALUS UNIVERSITY 231413680 2 0 630420 0 1 630420 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21186946 113903 2848168 787910 23361107 21969063 614107 -515525 880699 21186946 22922913 144945 -272976 825819 21969063 20564011 479737 2466462 586997 22922913 18706833 171677 2259678 574177 20564011 0.72810 0.15970 0.11230 0 0 0 DUE FROM COLLEGE 3374700 DUE TO ALUMNI ASSOCIATION 62257 GIFT ANNUITY LIABILITY 193914 3630871 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE HELD BY PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION, A RELATED TAX-EXEMPT ORGANIZATION. THE PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION'S ENDOWMENT CONSISTS OF A PORTFOLIO OF ACTIVELY MANAGED FUNDS ESTABLISHED TO PROVIDE BOTH A SOURCE OF OPERATING FUNDS AS WELL AS LONG-TERM FINANCIAL STABILITY. THE ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS OR QUASI ENDOWMENTS. ENDOWMENT FUNDS MAY HAVE PURPOSE RESTRICTIONS ON USE OF THE INCOME. PART X, LINE 2: THE ORGANIZATION HAS BEEN GRANTED TAX-EXEMPT STATUS AS A NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FILES FEDERAL TAX FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, ANNUALLY FOR INFORMATIONAL PURPOSES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTIES IN INCOME TAX POSITIONS, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE-LIKELY-THAN-NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION DOES NOT BELIEVE ITS CONSOLIDATED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 2662466 0 0 0 0 0 0 2662466 0 2662466 1 0 1 1 0 0 TEI FUNDRAISER 139914 129629 10285 139914 129629 10285 10285 45000 0 45000 45000 PA 1 0 0 0 1.00000 0.00000 DIRECTOR OF INSTITUTIONAL ADVANCEMENT 8360 OLD YORK ROAD ELKINS PARK PA 19027 0 0 1 SALUS UNIVERSITY 8360 OLD YORK ORAD ELKINS PARK PA 19027 231413680 501(C)(3) 630420 0 N/A N/A INVESTMENT DRAW 1 0 SCHOLARSHIPS 62 109344 0 N/A N/A PART I, LINE 2: THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE PENNSYLVANIA COLLEGE OF OPTOMETRY; THEREFORE, ALL FUNDS GRANTED ARE USED TO DEFRAY THE COST OF TUITION AND NO FURTHER MONITORING OF THE GRANTS IS REQUIRED. 0 1 0 0 0 0 0 0 0 DR MICHAEL H MITTELMAN PRESIDENT 0 314238 0 0 0 13370 0 27497 0 1884 0 356989 0 0 DONALD KATES VP FINANCE 0 194501 0 0 0 0 0 21010 0 14324 0 229835 0 0 PART I, LINE 4B DR. MICHAEL H. MITTLEMAN RECEIVED $4,663 IN SUPPLEMENTAL NONQUALIFED RETIREMENT PLAN. BOARD MEMBER FAMILY MEMBER OF BOARD MEMBER 5334 SCHOLARSHIP FORM 990, PART VI, SECTION A, LINE 8B THE FOUNDATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS MADE AVAILABLE TO THE FINANCE COMMITTEE OF SALUS UNIVERSITY ON A SECURE WEBSITE. EACH COMMITTEE MEMBER IS PROVIDED OPPORTUNITY TO COMMENT ON THE INFORMATION CONTAINED IN THE 990 PRIOR TO FILING. THE FULL BOARD IS PROVIDED OPPORTUNITY TO REVIEW THE FILED 990. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE OF THE FOUNDATION IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE UNIVERSITY. THE UNIVERSITY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE /DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY BY AN AD HOC COMMITTEE ESTABLISHED FOR JUST SUCH PURPOSE. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT COMPENSATE ANY OF THE INDIVIDUALS REPORTED IN PART VII OF THE FORM 990, ALL COMPENSATION IS PAID BY A RELATED ORGANIZATION, SALUS UNIVERSITY. THE PROCESS FOR DETERMINING COMPENSATION FOR THOSE INDIVIDUALS IS REPORTED ON THAT ORGANIZATION'S FORM 990. THE COMMITTEE WHICH OVERSEES THE COMPENSATION OF THE PRESIDENT IS CURRENTLY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. SALUS UNIVERSITY 8368 OLD YORK ROAD ELKINS PARK PA 19027 231413680 EDUCATION PA 501(C)(3) LINE 2 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 0 SALUS UNIVERSITY M 255000 VALUE OF SERVICES SALUS UNIVERSITY P 630420 VALUE OF SERVICES