2017-05-12T10:58:38-05:00 2016-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2015-07-01 240795453 MARYWOOD UNIVERSITY MARY 5703486222 2300 ADAMS AVENUE SCRANTON PA 185091598 SR MARY PERSICO IHM PRESIDENT 5703486222 2017-05-11 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2021-01-29 14:40:06Z SR ANNE MUNLEY IHM 2300 ADAMS AVENUE SCRANTON PA 185091598 103293754 0 X WWW.MARYWOOD.EDU X 1915 PA TO PROVIDE AN EDUCATION IN THE IMMACULATE HEART OF MARY TRADITION OF ACADEMIC EXCELLENCE. 29 29 1818 33 385351 -115140 11626578 7341529 83229024 83062842 1807108 1347785 5288672 4656745 101951382 96408901 29235405 29920934 0 0 44190354 40933045 53894 16482 982438 27227200 28054902 100706853 98925363 1244529 -2516462 207824010 199923728 84885292 80657141 122938718 119266587 X A CATHOLIC UNIVERSITY SPONSORED BY THE CONGREGATION OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY, MARYWOOD UNIVERSITY ROOTS ITSELF IN THE PRINCIPLE OF JUSTICE AND A BELIEF THAT EDUCATION EMPOWERS PEOPLE. ENACTING ITS IDEALS, MARYWOOD OFFERS STUDENTS A WELCOMING AND SUPPORTIVE COMMUNITY THAT ENCOURAGES MEN AND WOMEN OF ALL BACKGROUNDS TO SHAPE THEIR LIVES AS LEADERS IN SERVICE TO OTHERS. PROUD OF ITS LIBERAL ARTS TRADITION AND HOST OF PROFESSIONAL DISCIPLINES, MARYWOOD CHALLENGES STUDENTS TO BROADEN THEIR UNDERSTANDING OF GLOBAL ISSUES AND TO MAKE DECISIONS BASED ON SPIRITUAL, ETHICAL, AND RELIGIOUS VALUES. MARYWOOD CALLS UPON STUDENTS TO SEEK THEIR FULL POTENTIAL AND INVITES ALL TO ENGAGE IN A LIFELONG PROCESS OF LEARNING. WITNESSING THE EFFICACY OF TEACHING AND SCHOLARSHIP, MARYWOOD EDUCATES STUDENTS TO LIVE RESPONSIBLY IN A DIVERSE AND INTERDEPENDENT WORLD. 0 0 68578021 29920934 58146032 INSTRUCTION AND SCHOLARSHIPS - MARYWOOD PROVIDED UNDERGRADUATE AND GRADUATE INSTRUCTION TO 2,672 FULL-TIME AND 338 PART-TIME STUDENTS. CONSIDERED A "LIBERAL ARTS" UNIVERSITY, MARYWOOD HAS FIVE DEGREE-GRANTING COLLEGES, AND OFFERS UNDERGRADUATE DEGREES IN OVER SIXTY ACADEMIC PROGRAMS WHICH INCLUDE ARTS, SCIENCES, FINE ARTS, MUSIC, SOCIAL WORK, ARCHITECTURE, AND NURSING. MARYWOOD IS FULLY ACCREDITED BY THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION. GRADUATE PROGRAMS INCLUDE ARCHITECTURE, PHYSICIAN ASSISTANT, SOCIAL WORK, BUSINESS, EDUCATION, AND PSYCHOLOGY. 8576594 11177850 AUXILIARY SERVICES - MARYWOOD PROVIDED DORMITORY SERVICES TO 705 RESIDENT STUDENTS AND FOOD SERVICES TO RESIDENT STUDENTS, COMMUTER STUDENTS, AND CAMPUS STAFF. MARYWOOD OFFERED NINE ON-CAMPUS HOUSING OPTIONS AND FIVE DINING VENUES. THE UNIVERSITY ALSO OPERATED A DAY CARE CENTER WHICH IS AVAILABLE TO FACULTY, STAFF, AND THE GENERAL PUBLIC. 8440647 7156668 RESEARCH AND ACADEMIC SUPPORT - MARYWOOD PROVIDED SERVICES TO SUPPORT THE INSTRUCTIONAL AREAS NOTED ABOVE. THIS INCLUDES LIBRARY, MEDIA, COMPUTER SERVICES, ATHLETICS, HEALTH SERVICES, TECHNOLOGY, AND ART & GALLERIES. FACULTY AND STAFF ARE ENCOURAGED TO SECURE FUNDING FOR VARIOUS RESEARCH PROJECTS FROM FEDERAL, STATE, AND LOCAL AS WELL AS PRIVATE FUNDING AGENCIES. 85595262 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 125 0 1 1818 1 1 1 0 0 0 0 1 1 0 0 0 0 X 29 29 1 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X PATRICK E CASTELLANI ASSISTANT TREASURER CONTROLLER 5703486283 2300 ADAMS AVENUE LIBERAL ARTS SCRANTON PA 185091598 LISA A LORI ESQ CHAIR 1.00 X X 0 0 0 MARY ELLEN MCDONOUGH VICE CHAIR 1.00 X X 0 0 0 JAMES G GAVIN TREASURER 1.00 X X 0 0 0 SUSAN COGNETTI SECRETARY 1.00 X X 0 0 0 SISTER ANNE MUNLEY IHM PRESIDENT 35.00 X X 0 0 0 MARY ANN CONABOY ABRAHAMSEN TRUSTEE 1.00 X 0 0 0 COL LORRAINE R BREEN TRUSTEE 1.00 X 0 0 0 PATRICK BRIER TRUSTEE (TERM 10/2/15) 1.00 X 0 0 0 SISTER MARY ANN CODY IHM TRUSTEE 1.00 X 0 0 0 LEE A DEHIHNS III TRUSTEE 1.00 X 0 0 0 SISTER SUZANNE DELANEY IHM TRUSTEE 1.00 X 0 0 0 FRANK A EPIFANO TRUSTEE 1.00 X 0 0 0 PIA FERRARIO TRUSTEE 1.00 X 0 0 0 PATRICK J FRICCHIONE MD TRUSTEE 1.00 X 0 0 0 MARIA C GOGAL TRUSTEE 1.00 X 0 0 0 SISTER NANCY HAWKINS IHM TRUSTEE 1.00 X 0 0 0 ANN R HENRY PHD TRUSTEE 1.00 X 0 0 0 MICHAEL INSALACO EMERITUS TRUSTEE 1.00 X 0 0 0 DICK KANE TRUSTEE 1.00 X 0 0 0 SISTER ANDREA J LEE IHM TRUSTEE 1.00 X 0 0 0 WILLIAM R LYNETT TRUSTEE 1.00 X 0 0 0 SISTER ELLEN MARONEY IHM EX-OFFICIO TRUSTEE 1.00 X 0 0 0 SISTER MARY ELLEN MERRICK IHM TRUSTEE 1.00 X 0 0 0 MARION MUNLEY ESQ TRUSTEE 1.00 X 0 0 0 CATHERINE G QUINNAN TRUSTEE 1.00 X 0 0 0 MARY KAY ROTERT TRUSTEE 1.00 X 0 0 0 PAULA SHIELDS TRUSTEE 1.00 X 0 0 0 VIRGINIA P SHIELDS EMERITUS TRUSTEE 1.00 X 0 0 0 JOHN P SWEENEY SR TRUSTEE 1.00 X 0 0 0 JOHN T TIGHE III TRUSTEE (TERM 8/2/15) 1.00 X 0 0 0 MONSIGNOR DAVID L TRESSLER TRUSTEE 1.00 X 0 0 0 ANN BOLAND-CHASE VP FOR ENROLLMENT MANAGEMENT 35.00 X 144843 0 21790 JOSEPH X GARVEY JR VP FOR BUSINESS AFFAIRS/TR 35.00 X 172968 0 22963 DR ALAN LEVINE VP FOR ACADEMIC AFFAIRS 35.00 X 176973 0 25224 MARY THERESA PATERSON SEC. OF UNIV./GENERAL COUNSEL 35.00 X 89884 0 22028 RENEE ZEHEL VP FOR UNIVERSITY ADVANCEMENT 35.00 X 127145 0 22662 COLLIER PARKER DEAN, CREATIVE AND PERFORMING 35.00 X 137740 0 22915 DR CHRISTOPHER SPEICHER ASSOCIATE PROFESSOR 35.00 X 149284 0 9671 DR MARK RODGERS DEAN, HEALTH/HUMAN SERVICES 35.00 X 132292 0 22256 DR FRANCES ZAUHAR DEAN, LIBERAL ARTS & SCIENCES 35.00 X 127068 0 20726 DR ARTHUR COMSTOCK ASSOCIATE PROFESSOR 35.00 X 118795 0 23446 1376992 0 213681 32 0 1 0 SORDONI CONSTRUCTION SERVICES INC 45 OWEN STREET FORTY FORT PA 18704 GENERAL CONTRACTING 7787527 CHARTWELLS COMPASS GROUP USA PO BOX 427632 BOSTON MA 02241 DINING SERVICES 4251895 RIDDLE ENVIR SERVICES 431 SMITH STREET DUNMORE PA 18512 LEGAL SERVICES 454950 ACADEMIC CENTERS ABROAD LLC 1 EXECUTIVE BOULEVARD 4TH FLOOR YONKERS NY 10701 STUDENT SERVICES 437910 4 351499 2189926 4800104 622616 7341529 TUITION & FEES 611600 76123517 76123517 AUXILIARY ENTERPRISE SALES & SVCS 721310 6582292 385351 6196941 EDUCATION SALES & SERVICES 611710 183043 183043 EDUCATION RELATED SERVICES 611710 173990 173990 83062842 692582 692582 480 480 32400 33280 -880 -880 -880 7212944 166500 6708284 15957 504660 150543 655203 655203 19300 351499 56945 -37645 -37645 4564992 70387 4494605 4494605 DEFERRED PAYMENT FEE 900099 50825 50825 BAD DEBT RECOVERIES 900099 47092 47092 CHARTWELLS LONGEVITY BONUS 900099 33898 33898 68370 68370 200185 96408901 76480550 385351 12201471 29920934 29920934 1205850 979417 202979 23454 30668054 24909233 5162311 596510 1170836 915850 228301 26685 5722033 3674340 1939202 108491 2166272 1784978 339006 42288 352529 352529 132524 132524 16482 16482 25970 25970 4136711 2847420 1264579 24712 295107 70363 223587 1157 5237331 4233507 907198 96626 289694 161294 126325 2075 2179623 2170725 8898 967202 902579 34083 30540 2574127 2574127 6290973 5290604 1000369 430851 327555 103296 FOOD SERVICE 4022221 4022221 ENTERTAINMENT 392072 319824 58949 13299 EDUCATION & ACTIVITIES 246802 242298 4504 BAD DEBT 180299 180299 300866 247993 52754 119 98925363 85595262 12347663 982438 12600 12600 7432101 6833759 5777191 4213382 2968718 2183485 17554 13252 473932 671725 236955555 86983228 154060094 149972327 34327808 32448646 1060248 1007401 1693764 2567151 207824010 199923728 11462873 7201016 4105178 8473385 39494891 34900199 27017406 21598486 2804944 8484055 84885292 80657141 X 92149838 89893478 9257295 7786680 21531585 21586429 122938718 119266587 207824010 199923728 X -2516462 -1033506 -122163 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 43330876 1142471 713681 1036000 33168 44117860 41437546 581849 2321491 969000 41010 43330876 38046968 790147 3581816 940000 41385 41437546 35698557 842008 2433278 883000 43875 38046968 35506913 473367 618687 855000 45410 35698557 0.27230 0.72770 1 0 1543927 1543927 223391838 81344120 142047718 274924 97964 176960 11744866 5541144 6203722 149972327 REFUNDABLE ADVANCES FOR FEDERAL STUDENT LOANS 1393473 CAPITAL LEASE OBLIGATIONS 1788582 NOTE PAYABLE TO RELATED PARTIES 5302000 8484055 X 66030124 -1033506 -29505883 -30539389 96569513 -160612 -160612 96408901 69702255 160612 160612 69541643 29383720 29383720 98925363 PART III, LINE 4: MARYWOOD UNIVERSITY ART GALLERIES STRIVE TO PRESENT EXHIBITIONS AND PROGRAMS THAT PROVIDE OPPORTUNITIES FOR LIFELONG LEARNING AND CONTRIBUTE TO THE VISUAL LITERACY OF BOTH THE INSTITUTION AND GREATER COMMUNITY. THE ART GALLERIES ARE COMMITTED TO COMPLEMENTING AND BROADENING THE AVAILABILITY OF CONTEMPORARY AND HISTORICAL VISUAL ARTS FOR THE ACADEMIC COMMUNITY WITH OUTREACH AND COLLABORATIVE PROGRAMMING. ALL EXHIBITIONS, RECEPTIONS, AND ACCOMPANYING EVENTS ARE FREE OF CHARGE AND OPEN TO THE MARYWOOD COMMUNITY AND THE GENERAL PUBLIC. CURRENT, FUTURE, AND PAST EXHIBITIONS, AS WELL AS OVER 50 OBJECTS FROM THE PERMANENT COLLECTION, CAN BE VIEWED ON THE ART GALLERIES' WEB PAGE AT WWW.MARYWOOD.EDU/GALLERIES. THE SURACI GALLERY MAINTAINS MARYWOOD'S PERMANENT COLLECTION OF FINE AND DECORATIVE ARTS. THE ASIAN COLLECTION CONSISTS OF PAINTINGS, FURNITURE, IVORIES, TAPESTRIES, AND CERAMICS. BRONZE AND MARBLE SCULPTURES, FURNITURE, AND PAINTINGS COMPRISE THE 19TH CENTURY COLLECTION. IN ADDITION, EUROPEAN CERAMICS, GLASS, AND OTHER DECORATIVE ARTS ARE DISPLAYED. FEATURE EXHIBITIONS THAT SHOWCASE REGIONAL, NATIONAL, AND INTERNATIONAL ARTISTS, AS WELL AS RECENT WORK BY ART FACULTY ARE HIGHLIGHTED DURING THE YEAR IN A RECENTLY RENOVATED EXHIBITION SPACE. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS ARE TO GIVE FINANCIAL AID TO STUDENTS OR PROGRAMS THAT FIT THE CRITERIA DESIGNATED BY THE DONOR IN THE SCHOLARSHIP AGREEMENT. THE MAJORITY OF THE ENDOWMENT FUNDS ARE DESIGNATED FOR STUDENT AWARDS, BUT THERE ARE A FEW IN PLACE WITH THE INTENT TO HELP SUPPORT A PARTICULAR PROGRAM. THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 100 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF TRUSTEES OF THE UNIVERSITY HAS INTERPRETED PENNSYLVANIA LAW AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, THE UNIVERSITY CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS EITHER TEMPORARILY RESTRICTED OR UNRESTRICTED NET ASSETS BASED ON THE EXISTENCE OF DONOR RESTRICTIONS OR BY LAW. THE UNIVERSITY CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: 1. THE DURATION AND PRESERVATION OF THE FUND 2. THE PURPOSES OF THE UNIVERSITY AND THE DONOR-RESTRICTED ENDOWMENT FUND 3. GENERAL ECONOMIC CONDITIONS 4. THE POSSIBLE EFFECT OF INFLATION AND DEFLATION 5. THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS 6. OTHER RESOURCES OF THE UNIVERSITY 7. THE INVESTMENT POLICIES OF THE UNIVERSITY THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE UNIVERSITY MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED THE PRICE AND YIELD RESULTS OF THE S&P 500 INDEX WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. THE UNIVERSITY EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 9 PERCENT ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE UNIVERSITY RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE UNIVERSITY TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE UNIVERSITY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 3.5 TO 5 PERCENT OF ITS ENDOWMENT FUNDS' AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE CALENDAR YEAR-END PROCEEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE UNIVERSITY CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE UNIVERSITY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE OF 4 PERCENT ANNUALLY. THIS IS CONSISTENT WITH THE UNIVERSITY'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INCOME DETERMINED TO BE UNRELATED BUSINESS INCOME IS TAXABLE. THE UNIVERSITY BELIEVES SUBSTANTIALLY ALL ITS INCOME IS RELATED INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 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: SCHOLARSHIPS -29,383,720. UNREALIZED LOSS ON INTEREST RATE SWAP -29,044. CHANGE IN SPLIT INTEREST AGREEMENTS -93,119. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -70,387. FUNDRAISING EXPENSES -56,945. RENTAL EXPENSES -33,280. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 70,387. FUNDRAISING EXPENSES 56,945. RENTAL EXPENSES 33,280. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 29,383,720. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS CLEARLY STATED ON MOST ADMISSIONS ADVERTISEMENTS AND PUBLICATIONS. IT IS ALSO DISCLOSED ON THE SUPPLEMENTAL MATERIAL CREATED BY THE MARKETING AND COMMUNCATIONS OFFICE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY AWARDS GRANTS-IN-AID AND SCHOLARSHIPS TO INDIVIDUALS WHO MEET THE UNIVERSITY'S ACADEMIC STANDARDS. THE AMOUNTS OF SUCH AWARDS ARE BASED UPON THE FINANCIAL NEEDS OF EACH APPLICANT. ADDITIONAL FINANCIAL AID IS PROVIDED TO STUDENTS FROM FEDERAL AND STATE PROGRAMS IN WHICH THE UNIVERSITY PARTICIPATES AND FROM MONIES CONTRIBUTED TO THE UNIVERSITY BY ALUMNI AND FRIENDS OF THE UNIVERSITY. CERTAIN STUDENTS OF THE UNIVERSITY WERE RECIPIENTS OF GRANTS UNDER THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE ACT ("PHEAA") AND THE PELL GRANTS PROGRAMS. THE GRANTS ARE SIMILAR TO AGENCY FUNDS BECAUSE THE UNIVERSITY ACTED ONLY AS CUSTODIAN AND DISBURSING AGENT FOR THESE FUNDS. HAD THESE AMOUNTS BEEN INCLUDED, REVENUES AND EXPENSES WOULD HAVE INCREASED BY APPROXIMATELY $2,559,000 IN 2016 AND $2,479,000 IN 2015 FOR PHEAA AND $2,723,000 IN 2016 AND $2,862,000 IN 2015 FOR PELL. SUB-SAHARAN AFRICA 0 28 PROGRAM SERVICES THE SISTERS LEADERSHIP DEVELOPMENT INITIATIVE ("SLDI")PHASE II YEAR 3 PROGRAM EVALUATION IS AN OBJECTIVES-BASED ASSESSMENT USING CRITERIA OUTLINED IN THE PROJECT PROPOSAL TO THE CONRAD N. HILTON FOUNDATION. IT TARGETS: 1. PROJECT OUTPUTS, 2. PARTICIPANT SKILLS AND KNOWLEDGE, 3. PROJECT MANAGEMENT, AND 4. PROJECT OUTCOMES.1. PROJECT OUTPUTS AND PARTICIPANT DEMOGRAPHICS WERE BASED ON DATA COLLECTED DURING THE SESSIONS AND RECORDED BY THE PARTICIPANT OR COORDINATOR. 2. PARTICIPANT SKILLS AND KNOWLEDGE WERE ASSESSED PRE AND POST TRAINING. THESE MEASURES WERE SELF-REPORT MEASURES, AND THE LIKERT SCALES WERE CONSTRUCTED TO ALIGN WITH THE EXPECTED COMPETENCIES INTEGRATED INTO THE TECHNOLOGY AND WEB-DESIGN CURRICULUM. 3. PROJECT MANAGEMENT WAS ASSESSED USING DATA INCLUDING: (A) LEARNING ENVIRONMENT ASSESSMENT BY PARTICIPANTS AFTER EACH SESSIONS, AND (B) TRAINER EVALUATIONS AFTER EACH SESSION.4. THE FINAL OUTCOME OF THE PROJECT IS BASED ON ANNUAL DATA INCLUDING EVALUATIONS. 2877860 0 28 0 0 0 28 2877860 0 2877860 0 0 0 0 0 0 X X X X 1 STOCKADE CONSULTING GROUP 650 FRANKLIN STREET SCHENECTADY NY 12305 PHONATHON AGENT 0 99309 16482 82827 99309 16482 82827 PA CENTENNIAL DINNER 370799 351499 19300 14869 22031 14167 5878 370799 351499 19300 14869 22031 14167 5878 56945 -37645 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE UNIVERSITY PAID STOCKADE CONSULTING GROUP TO ACT AS OUR ANNUAL FUND PHONATHON AGENTS. AS SUCH, STOCKADE CONSULTING GROUP CONTACTED ALUMNI, PARENTS, AND FRIENDS OF THE UNIVERSITY SOLICITING PLEDGES OF FINANCIAL SUPPORT OF OUR INSTITUTIONAL MISSION. IN PARTICULAR, THEY SOUGHT GIFTS IN SUPPORT OF THE MARYWOOD SCHOLARSHIP FUND TO PROVIDE RESOURCES TO UNDERWRITE FINANCIAL AID AND SCHOLARSHIP AWARDS MADE BY THE UNIVERSITY TO DESERVING STUDENTS. IN THE COURSE OF THEIR WORK, STOCKADE CONSULTING GROUP ADVISED THESE SUPPORTERS OF NEW AND EXCITING CHANGES TO PROGRAMS AND FACILITIES AT MARYWOOD. IN ADDITION, THEY OBTAINED INFORMATION CONCERNING CHANGES TO BIOGRAPHIC AND DEMOGRAPHIC INFORMATION OF THE INDIVIDUALS CALLED. STOCKADE CONSULTING GROUP ACTED STRICTLY IN THE ROLE OF OUR AGENT IN SECURING PLEDGES OF SUPPORT. THE PROCESSING OF ALL PLEDGE PAYMENTS AND CREDIT CARD TRANSACTIONS WERE HANDLED BY UNIVERSITY EMPLOYEES. 1 SPONSORED SCHOLARSHIPS 956 549113 CASH NON-SPONSORED SCHOLARSHIPS 2035 28834607 CASH STUDENT AID 2722 537214 CASH PART I, LINE 2: THE OFFICE OF FINANCIAL AID DETERMINES ELIGIBILITY OF EACH STUDENT WHO APPLIES FOR FINANCIAL AID, USING FORMULAS AND CRITERIA PROMULGATED BY VARIOUS FEDERAL, STATE, AND LOCAL GOVERNMENTAL BODIES, AS WELL AS MARYWOOD'S INTERNALLY ESTABLISHED RULES AND PROCEDURES. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ANN BOLAND-CHASE VP FOR ENROLLMENT MANAGEMENT 144843 0 0 0 0 0 7556 0 14234 0 166633 0 0 0 JOSEPH X GARVEY JR VP FOR BUSINESS AFFAIRS/TR 172968 0 0 0 0 0 8867 0 14096 0 195931 0 0 0 DR ALAN LEVINE VP FOR ACADEMIC AFFAIRS 176973 0 0 0 0 0 9102 0 16122 0 202197 0 0 0 COLLIER PARKER DEAN, CREATIVE AND PERFORMING 137740 0 0 0 0 0 7182 0 15733 0 160655 0 0 0 DR CHRISTOPHER SPEICHER ASSOCIATE PROFESSOR 149284 0 0 0 0 0 7503 0 2168 0 158955 0 0 0 DR MARK RODGERS DEAN, HEALTH/HUMAN SERVICES 132292 0 0 0 0 0 7082 0 15174 0 154548 0 0 0 PART I, LINE 1A MARYWOOD'S PRESIDENT, SR. ANNE MUNLEY, LIVES IN HOUSING OWNED BY MARYWOOD, SPECIFICALLY FOR THE PRESIDENT. THIS HOUSING ALLOWANCE IS EXCLUDABLE FROM INCOME UNDER IRC SECTION 119. BECAUSE SISTER'S CONGREGATION TAKES A VOW OF POVERTY, ALL OF HER INCOME RELATED TO HER WORK FOR MARYWOOD GOES DIRECTLY TO THE CONGREGATION, AND IS THEREFORE NOT TAXABLE TO SISTER ANNE. A PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917N4Q4 2005-04-15 11447049 SERIES B OF 2005 - TO REF'D 1999 D4 BNDS; FIN CONSTR OF ATH FAC; FND DBT SVC 0 0 0 B PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 70917RAZ8 2005-12-15 12567509 SERIES C OF 2005 - TO FIN RENOV OF RES HALL; FIN VAR CAP IMP; FND DBT SVC 0 0 0 C THE ABINGTON TOWNSHIP MUNICIPAL AUTHORITY 231708665 003642AH8 2007-01-04 14991657 SERIES OF 2007 - TO FIN RENOV OF RESIDENCE HALL & OTHER CAP IMPROVMENTS 0 0 0 A A 1270000 11460693 544940 393943 161197 323210 9759679 700000 2006 1 0 1 1 B 1475000 12590428 626884 242819 176557 341441 11506871 2007 0 0 1 1 C 605000 14997303 505097 462804 205201 274787 13887085 2008 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 1 AIG 1 0 0 B 0 0 1 0 0 0 1 AIG 1 0 0 C 0 0 1 0 0 0 1 AIG 1 0 0 A 0 B 0 C 0 SCHEDULE K, PART II LINE 3: PROCEEDS REPORTED ON PART II LINE 3 ARE HIGHER THAN PROCEEDS REPORTED IN PART I DUE TO INTEREST EARNED. X 1 5394 EXPERT APPRAISAL X 1472 COST X 2667 COST X 9 598208 PUBLICLY TRADED STOCK X 1 60 COST X BILLBOARD ADVERTISEMENT 1 8000 COST X HOSTED EVENTS 2 1630 COST X ORGAN & SHEET MUSIC 1 1524 COST X TENT RENTAL 1 1380 COST X GIFT BASKETS & CERTIFICATES 7 990 FMV X AUDIO SERVICES 1 500 COST X GARDEN SUPPLIES 1 350 COST X SPORTS TICKETS & MEMORABILIA 2 294 FMV X THERAPY MATERIALS FOR SPEECH LANGUAGE 1 147 FMV 0 0 1 PART I, LINE 32B: PENN SECURITY BANK & TRUST COMPANY RECEIVES ALL STOCK CONTRIBUTIONS AND IMMEDIATELY SELLS THEM. FORM 990, PART VI, SECTION A, LINE 2 VIRGINIA SHIELDS AND PAULA SHIELDS ARE BOTH BOARD MEMBERS. PAULA IS VIRGINIA'S DAUGHTER. FORM 990, PART VI, SECTION A, LINE 3 CHARTWELLS MANAGES DINING SERVICES; CONCORD INVESTMENTS ADVISES AS TO MARYWOOD'S ENDOWMENT FUND INVESTING; FOLLETT MANAGES MARYWOOD'S BOOKSTORE. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE MARYWOOD UNIVERSITY CORPORATION ARE SIX MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY. FORM 990, PART VI, SECTION A, LINE 7A ARTICLE I, SECTION 4 OF THE MARYWOOD UNIVERSITY BYLAWS STATES: "THE MEMBERS OF THE CORPORATION SHALL HAVE THE RIGHT, BY MAJORITY VOTE, TO ELECT TRUSTEES. THEY SHALL HAVE THE RIGHT OF APPROVAL, BY MAJORITY VOTE, OF ACTIONS OF THE BOARD OF TRUSTEES RELATING TO CHANGES IN INSTITUTIONAL PURPOSE AND PHILOSOPHY; APPOINTMENT OF THE PRESIDENT OF THE UNIVERSITY; ACQUISITION, DISPOSITION, ENCUMBRANCE, OR LEASE OF REAL PROPERTY OF THE INSTITUTION; CONSTRUCTION OF NEW BUILDINGS; DISSOLUTION, MERGER, OR CONSOLIDATION OF THE INSTITUTION WITH ANOTHER CORPORATION; AMENDMENTS TO THE BYLAWS; AND DISPOSITION OF PROPERTY UPON DISSOLUTION." FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF THE MARYWOOD UNIVERSITY SHALL HAVE THE RIGHT, BY MAJORITY VOTE, TO ELECT TRUSTEES. THEY SHALL HAVE THE RIGHT OF APPROVAL, BY MAJORITY VOTE, OF ACTIONS OF THE BOARD OF TRUSTEES RELATING TO CHANGES IN INSTITUTIONAL PURPOSE AND PHILOSOPHY; APPOINTMENT OF THE PRESIDENT OF THE UNIVERSITY; ACQUISITION, DISPOSITION, ENCUMBRANCE, OR LEASE OF REAL PROPERTY OF THE INSTITUTION; CONSTRUCTION OF NEW BUILDINGS; DISSOLUTION, MERGER, OR CONSOLIDATION OF THE INSTITUTION WITH ANOTHER CORPORATION; AMENDMENTS TO THE BYLAWS; AND DISPOSITION OF PROPERTY UPON DISSOLUTION. FROM 2006 TO 2010, THE (SIX) MEMBERS OF THE MARYWOOD UNIVERSITY CORPORATION INCLUDED SISTER MARY PERSICO, PRESIDENT OF THE IHM CONGREGATION; SISTER MARY JO GALLAGHER, VICE PRESIDENT OF THE IHM CONGREGATION; SISTER KATHRYN CLAUSS, COUNCILOR; SISTER SUSAN HADZIMA, COUNCILOR; BARBARA JABLONSKI, COUNCILOR; AMY ZYCHAL, COUNCILOR FROM 2010 TO 2014, THE (FIVE) MEMBERS OF THE MARYWOOD UNIVERSITY CORPORATION INCLUDE SISTER THERESE O'ROURKE, PRESIDENT OF THE IHM CONGREGATION; SISTER ELLEN MARONEY, VICE PRESIDENT OF THE IHM CONGREGATION; SISTER ROSEMARY GOULET, COUNCILOR; SISTER CHRISTINE KOELLHOFFER, COUNCILOR; SISTER ELLEN CARNEY, COUNCILOR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS FIRST REVIEWED BY THE ASSISTANT TREASURER & CONTROLLER, AND THE VP OF BUSINESS AFFAIRS AND TREASURER. ONCE THIS PROCESS IS COMPLETE, THE FINAL DRAFT IS MADE AVAILABLE TO THE BOARD OF TRUSTEES PRIOR TO FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE DISTRIBUTED AT THE ANNUAL MEETING, IN APRIL, OF THE BOARD OF TRUSTEES. THE SECRETARY AND THE GENERAL COUNSEL REVIEW EACH CONFLICT OF INTEREST FORM. THE SECRETARY OF THE UNIVERSITY ASSURES THAT A CONFLICT OF INTEREST STATEMENT IS RECEIVED FROM EACH MEMBER BY THE FOLLOWING JULY 1. THE FILE OF FORMS IS KEPT IN THE OFFICE OF THE SECRETARY OF THE UNIVERSITY. ARTICLE XIV OF THE UNIVERSITY'S BYLAWS REQUIRES THAT THE MINUTES OF ANY MEETING IN WHICH A TRUSTEE MAY HAVE A CONFLICT OF INTEREST MUST REFLECT THAT A DISCLOSURE OF SUCH CONFLICT WAS MADE, AND THAT THE TRUSTEE HAVING SAID CONFLICT ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT CONSULTING FIRM, AFTER PERFORMING DUE DILIGENCE IN STUDYING COMPARATIVE SALARIES AND OTHER ECONOMIC FACTORS, RECOMMENDS A SALARY AMOUNT FOR THE PRESIDENT OF THE UNIVERSITY TO THE EXECUTIVE OFFICERS OF THE BOARD OF TRUSTEES. THE RECOMMENDATIONS ARE DOCUMENTED IN THE BOARD OF TRUSTEES MEETING MINUTES AS WELL AS WITH HUMAN RESOURCES. THE COMMITTEE OF EXECUTIVE OFFICERS, AFTER DELIBERATION AND CONSIDERATION, APPROVES THE PRESIDENT'S SALARY. THE PRESIDENT OF THE UNIVERSITY THEN SETS THE SALARIES OF THE SENIOR ADMINISTRATIVE OFFICERS, WITH APPROVAL OF THE EXECUTIVE OFFICERS OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS -93,119. UNREALIZED LOSS ON INTEREST RATE SWAP -29,044. FORM 990, PART VII: CERTAIN OFFICERS ARE NOT DIRECTLY COMPENSATED BY THE UNIVERSITY. THE UNIVERSITY PAYS THE CONGREGATION OF THE SISTERS, SERVANTS OF IMMACULATE HEART OF MARY ("IHM") ON BEHALF OF SISTER ANNE MUNLEY, PRESIDENT. MARYWOOD UNIVERSITY PAID IHM $288,883 ON BEHALF OF SISTER ANNE MUNLEY FOR HER ROLE AS PRESIDENT. SCHEDULE K, PART IV, LINE 5: THE DEBT SERVICE RESERVE FUNDS WERE INVESTED IN A GIC. THE GIC'S WERE TERMINATED DUE TO A DOWNGRADE IN AIG'S INVESTMENT RATING ON SEPTEMBER 16, 2008. THE DEBT SERVICE RESERVE FUND'S WERE SUBSEQUENTLY RE-INVESTED IN CERTIFICATE'S OF DEPOSIT WITH M&T BANK. SCHEDULE K, PART IV, LINE 6: THE PROCEEDS WERE INVESTED IN SLUGS, WHICH EARNED LESS THAN THE BOND ISSUE INTEREST RATE, AND THEREFORE NO ARBITRAGE WAS EARNED. CONGREGATION OF THE SISTERS SERVANTS OF THE IMMACULATE HEART IHM CENTER 2300 ADAMS AVENUE SCRANTON PA 18509 RELIGIOUS PA 501(C)(3) LINE 1 N/A 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1