2017-05-12T14:14:57-05:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2015-07-01 231413680 SALUS UNIVERSITY SALU 2157801400 8360 OLD YORK ROAD ELKINS PARK PA 19027 DONALD KATES VICE PRESIDENT OF FINANCE 2157801400 2017-05-11 1 KAREN GRIES P00078514 2156433900 2015 2021-01-29 14:40:06Z DR MICHAEL H MITTLEMAN 8360 OLD YORK ROAD ELKINS PARK PA 19027 47827518 0 X WWW.SALUS.EDU X 1919 PA THE MISSION OF SALUS UNIVERSITY IS TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. 19 16 928 18 0 0 3739516 4537234 36867699 40715281 9230 11395 1166684 1215392 41783129 46479302 1299854 1380857 0 0 28824339 32231814 26575 26855 163850 11826064 12351976 41976832 45991502 -193703 487800 100973887 62012607 47262731 47359389 53711156 14653218 THE MISSION OF SALUS UNIVERSITY IS TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. 0 0 25406046 1380857 37918454 SALUS UNIVERSITY IS A FOUR YEAR POST GRADUATE EDUCATIONAL INSTITUTION. THE UNIVERSITY PROGRAMS LEAD TO DOCTORAL DEGREES IN OPTOMETRY AND AUDIOLOGY AND MASTER'S DEGREES IN MEDICAL SCIENCE, OCCUPATIONAL THERAPY, SPEECH & LANGUAGE, LOW VISION REHABILITATION AND OTHERS. THE UNIVERSITY ENROLLS APPROXIMATELY 1000 STUDENTS. DURING THE YEAR 327 STUDENTS EARNED DEGREES. 6347522 0 2796827 THE UNIVERSITY OPERATES THREE CLINICAL TEACHING FACILITIES FOR THE OPTOMETRY PROGRAM. APPROXIMATELY 300 STUDENTS ARE TRAINED ANNUALLY. THE CLINICS PROVIDE EYE CARE, EAR CARE AND SPEECH & LANGUAGE REHABILITATION TO APPROXIMATELY 45,000 PATIENTS A YEAR. 2249234 0 0 THE UNIVERSITY RECEIVES FEDERAL, STATE AND PRIVATE GRANTS TO SUPPORT BASIC RESEARCH, CLINICAL RESEARCH, SPECIALIZED TRAINING AND STUDENT FINANCIAL AID. THESE AMOUNTS ARE EXPENDED PURSUANT TO THE GRANT AGREEMENT. 34002802 1 1 0 1 0 0 0 0 0 1 1 0 1 1 1 1 0 1 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1742 0 928 1 0 0 0 0 0 0 0 0 0 0 X 19 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X DONALD KATES 2157801240 8360 OLD YORK ROAD ELKINS PARK PA 19207 DR MICHAEL H MITTELMAN PRESIDENT 35.00 8.00 X X 324702 0 36525 MS JO SURPIN CHAIRPERSON 1.00 2.00 X X 0 0 0 DR DAN ABRAMOWICZ FIRST VICE CHAIR 1.00 0.00 X X 0 0 0 DR CRAIG CASSEY SECRETARY 1.00 2.00 X X 0 0 0 MR CARL A POLSKY TREASURER 1.00 2.00 X 0 0 0 DR DERRICK ARTIS TRUSTEE 1.00 0.00 X 0 0 0 DR MARK BOAS TRUSTEE 1.00 1.00 X 25905 0 0 DR ROBERT COLE TRUSTEE 1.00 0.00 X 0 0 0 MR RICHARD DEPIANO TRUSTEE 1.00 0.00 X 0 0 0 MR CHRISTOPHER DEZZI TRUSTEE 1.00 0.00 X 0 0 0 DR DAVID DOZACK TRUSTEE 1.00 0.00 X 0 0 0 MS SHIRLEY GREGORY TRUSTEE 1.00 0.00 X 0 0 0 MR KEITH D IGNOTZ TRUSTEE 1.00 0.00 X 0 0 0 MR JOSEPH W MARSHALL III TRUSTEE 1.00 0.00 X 0 0 0 MS PELASHIA MOORE TRUSTEE 1.00 0.00 X 0 0 0 DR JEAN MARIE PAGANI FACULTY TRUSTEE 35.00 0.00 X 117481 0 24352 MS MINDY M POSOFF TRUSTEE 1.00 0.00 X 0 0 0 DR ELOIS G ROGERS-PHILLIPS TRUSTEE 1.00 0.00 X 0 0 0 MS JANE SCACCETTI TRUSTEE 1.00 0.00 X 0 0 0 DR HARVEY WOLBRANSKY TRUSTEE 1.00 0.00 X 0 0 0 MR DONALD KATES VP - FINANCE 40.00 3.00 X 197566 0 33003 DR JANICE SCHARRE VP - ACADEMIC AFFAIRS 35.00 0.00 X 250431 0 31807 MS SUSAN OLESZEWSKI CHIEF OF STAFF 35.00 0.00 X 197408 0 28504 MR JOHN GAAL VP - CLINIC OPERATIONS 35.00 1.00 X 170825 0 18159 DR LORI GROVER DEAN - PA COLLEGE OF OPTOMETRY 35.00 0.00 X 226234 0 26930 DR LARRY MC CLURE DIR - INSTITUTIONAL RESEARCH 35.00 0.00 X 208266 0 30401 DR ANTHONY DI STEFANO DIR - MASTERS IN PUBLIC HEALTH 35.00 0.00 X 203390 0 33297 DR LORRAINE LOMBARDI ASSOC DEAN FACULTY AFFAIRS 35.00 0.00 X 202126 0 24978 DR MELISSA TREGO ASSOC DEAN & ASST PROFESSOR 35.00 0.00 X 196683 0 23473 2321017 0 311429 11 0 1 0 SHARP'S LANDSCAPING INC 7911 NORTH RADCLIFFE STREET BRISTOAL PA 19007 LANDSCAPING 315727 CULINART INC 97 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD SERVICE 310493 VISTACOM INC 1902 BULTEE STREET ALLENTOWN PA 18103 TECHNOLOGY 307953 CORPORATE FITNESS WORKS 1200 16TH STREET NORTH ST PETERSBURG FL 33705 FITNESS CENTER MGT 251370 FOX ROTHSCHILD LLP 2000 MARKET STREET 2ND FLOOR PHILADELPHIA PA 19103 LEGAL 237590 16 4051455 485779 4537234 TUITION 611310 37918454 37918454 PATIENT CARE 611310 2796827 2796827 40715281 11395 11395 1408562 1081754 326808 326808 326808 291698 266462 25236 25236 FOUNDATION MANAGEMENT FEE 900099 255000 255000 HAFTER FEES 900099 199996 199996 BOOKSTORE COMMISSION 900099 26023 26023 382329 382329 863348 46479302 40715281 0 1226787 1380857 1380857 1668931 514408 1154523 23395391 18904102 4443939 47350 1863688 1519885 339749 4054 3730988 3033963 688952 8073 1572816 1277287 292148 3381 245554 2740 242814 92276 92276 24355 24355 26855 26855 260115 257644 2471 1100375 632840 449121 18414 458189 237624 220565 865128 390339 474789 514139 435955 71502 6682 137922 130712 4864 2346 154002 154002 2030720 2030720 392836 273870 118966 RESEARCH GRANTS 4051454 4051454 EQUIPMENT & MAINTENANCE 954532 411549 529229 13754 PRINTING & PUBLICATION 459032 401215 26171 31646 UNIVERSITY SPECIAL EVEN 150462 91336 59126 460885 55022 404568 1295 45991502 34002802 11824850 163850 10324510 11093051 1663289 1771873 81650 24858 354991 362086 64760493 35399126 30890319 29361367 60123 55017413 15679659 2641715 3659590 100973887 62012607 3344647 2974993 8865217 9480340 7005000 6125000 306445 75947 27741422 28703109 47262731 47359389 X 45669901 6891361 3726239 3441500 4315016 4320357 53711156 14653218 100973887 62012607 X 487800 -39545738 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 24355 24355 0 PART II-B, LINE 1: SALUS UNIVERSITY UTILIZES WEBBER ASSOCIATES TO LOBBY EDUCATIONAL ISSUES IN THE STATE OF PENNSYLVANIA. 21969063 614107 -471833 924391 21186946 22922913 144945 -272976 825819 21969063 20564011 479437 2466462 586997 22922913 18706833 171677 2259678 574177 20564011 19295567 40244 -261107 367871 18706833 0.73000 0.17600 0.09400 0 1 0 2195043 2195043 44723100 20121508 24601592 17614894 15277618 2337276 227456 227456 29361367 GOVERMENT LOANS TO STUDENTS 15679659 F 15679659 DUE TO/FROM SUBSIDIARY 2686583 OTHER ASSETS 973007 3659590 GOVERNMENT ADVANCES 15987600 POST RETIREMENT BENEFITS 11626028 OTHER LIABILITIES 1089481 28703109 X 46844372 2106450 2106450 44737922 1741380 1741380 46479302 46928924 2573279 2573279 44355645 1635857 1635857 45991502 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 UNIVERSITY 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 UNIVERSITY 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 UNIVERSITY DOES NOT BELIEVE ITS CONSOLIDATED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 266,462. DIRECT RENTAL EXPENSES 1,081,754. FOUNDATION REVENUE REPORTED ON SEPARATE RETURN 480,323. PEI REVENUE REPORTED ON SEPARATE RETURN 277,911. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,380,857. FOUNDATION MANAGEMENT FEE 255,000. NON-OPERATING INCOME 105,523. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 266,462. DIRECT RENTAL EXPENSES 1,081,754. FOUNDATION EXPENSES REPORTED ON SEPARATE RETURN 492,978. PEI EXPENSES REPORTED ON SEPARATE RETURN 732,085. PART XII, LINE 4B - OTHER ADJUSTMENTS: FOUNDATION MANAGEMENT FEE 255,000. FINANCIAL AID 1,380,857. 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 UNIVERSITY HAS A WRITTEN POLICY ESTABLISHING ITS NON-DISCRIMINATION POLICY. IT IS PUBLISHED IN THE STUDENT HANDBOOK AND ON THE APPLICATION FOR ADMISSIONS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDING FROM GOVERNMENTAL AGENCIES FOR STUDENT TUITION ASSISTANCE IN ACCORDANCE WITH PROGRAMS SUCH AS SDS - SCHOLARSHIPS FOR DISADVANTAGED STUDENTS. EAST ASIA AND THE PACIFIC 0 11 PROGRAM SERVICES INSTRUCTION 86892 0 11 0 0 0 11 86892 0 86892 0 0 0 0 0 0 X X X X X X X 1 RUFFALOCODY PO BOX 718 DES MOINES IA 50303 SOLICITOR 0 61095 26855 34240 61095 26855 34240 PA 1 SCHOLARSHIPS 433 1380857 0 N/A N/A PART I, LINE 2: THE UNIVERSITY PROVIDES SCHOLARSHIPS TO STUDENTS MATRICULATING AT THE UNIVERSITY; THEREFORE, ALL FUNDS GRANTED ARE USED TO DEFRAY THE COST OF TUITION AND NO FURTHER MONITORING OF THE GRANTS ARE REQUIRED. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR MICHAEL H MITTELMAN PRESIDENT 320399 0 0 0 4303 0 31267 0 5258 0 361227 0 0 0 MR DONALD KATES VP - FINANCE 197566 0 0 0 0 0 21383 0 11620 0 230569 0 0 0 DR JANICE SCHARRE VP - ACADEMIC AFFAIRS 250431 0 0 0 0 0 25649 0 6158 0 282238 0 0 0 MS SUSAN OLESZEWSKI CHIEF OF STAFF 197408 0 0 0 0 0 20804 0 7700 0 225912 0 0 0 MR JOHN GAAL VP - CLINIC OPERATIONS 170825 0 0 0 0 0 12901 0 5258 0 188984 0 0 0 DR LORI GROVER DEAN - PA COLLEGE OF OPTOMETRY 226234 0 0 0 0 0 22898 0 4032 0 253164 0 0 0 DR LARRY MC CLURE DIR - INSTITUTIONAL RESEARCH 175716 0 0 0 32550 0 18781 0 11620 0 238667 0 0 0 DR ANTHONY DI STEFANO DIR - MASTERS IN PUBLIC HEALTH 203390 0 0 0 0 0 21677 0 11620 0 236687 0 0 0 DR LORRAINE LOMBARDI ASSOC DEAN FACULTY AFFAIRS 202126 0 0 0 0 0 17278 0 7700 0 227104 0 0 0 DR MELISSA TREGO ASSOC DEAN & ASST PROFESSOR 196683 0 0 0 0 0 15773 0 7700 0 220156 0 0 0 PART I, LINE 4B DR. MICHAEL H. MITTELMAN RECEIVED $481 IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. A SALUS UNIVERSITY - SERIES 2002 231413680 70917PHG7 2012-08-15 9435000 REFUNDING 2007 BONDS 0 1 0 A 3310000 9435000 140000 2012 1 0 1 1 A 0 0 1 1 1 1 0.02360 0.02360 0 0 0 A 0 0 1 0 1 0 0 0 1 A 1 BOARD MEMBER FAMILY MEMBER OF BOARD MEMBER 8666 SCHOLARSHIP SCHOLARSHIP FORM 990, PART VI, SECTION A, LINE 1 THE PRIMARY RESPONSIBILITY OF THE EXECUTIVE COMMITTEE IS TO STRENGTHEN THE BOARD'S PERFORMANCE BY HELPING IT FUNCTION EFFICIENTLY AND EFFECTIVELY. ITS BROAD POWERS SHALL BE USED ONLY AS NECESSARY AND APPROPRIATE ON ROUTINE BUSINESS OR EMERGENCY MATTERS THAT CANNOT OR SHOULD NOT BE DELAYED UNTIL THE BOARD'S NEXT REGULARLY SCHEDULED MEETING OR UNTIL A SPECIAL MEETING OF THE BOARD SHOULD BE CALLED AS SPECIFIED IN THE BYLAWS. THE COMMITTEE SHALL HAVE ALL POWERS OF THE BOARD OF TRUSTEES ON ALL MATTERS EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD: PRESIDENTIAL SELECTION AND TERMINATION, PRESIDENT'S COMPENSATION, TRUSTEE AND BOARD OFFICER SELECTION, CHARTER AND BYLAW AMENDMENT, CHANGING THE UNIVERSITY'S MISSION, INCURRING CORPORATE INDEBTEDNESS, APPROVAL OF ANNUAL BUDGET AND CONFERRAL OF DEGREES. FORM 990, PART VI, SECTION B, LINE 11 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 UNIVERSITY 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 15A THE PRESIDENT IS THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. IN DETERMINING COMPENSATION , THE BOARD RELIES UPON COMPARABILITY DATA OF INSTITUTIONS SIMILARLY SITUATED TO SALUS UNIVERSITY. THE DELIBERATIONS TO DETERMINE THE PRESIDENT'S COMPENSATION ARE DOCUMENTED IN THE BOARD COMMITTEE'S MINUTES. THIS REVIEW PROCESS LAST OCCURRED IN 2016. COMPENSATION PAID TO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION IS DETERMINED BY THE PRESIDENT OF THE UNIVERSITY IN CONSULTATION WITH THE DIRECTOR OF HUMAN RESOURCES. WHEN NECESSARY, THEY WILL UTILIZE INDEPENDENT COMPARABILITY DATA TO BENCHMARK A REASONABLE SALARY FOR THESE INDIVIDUALS. THIS REVIEW PROCESS LAST OCCURRED IN 2016. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI,LINE 8 - PRIOR PERIOD ADJUSTMENTS THE UNIVERSITY HAS ALWAYS FILED INDIVIDUAL FORM 990 FOR EACH OF ITS RELATED ENTITIES (SEE SCHEDULE R PART II) AS REQUIRED BY IRS REGULATIONS. ON THE UNIVERSITY'S FORM 990, THESE RELATED ENTITIES WERE PREVIOUSLY REPORTED ON THE UNIVERSITY'S BALANCE SHEET USING THE EQUITY METHOD OF ACCOUNTING. HOWEVER, THE REVENUE (PART VIII) AND EXPENSES (PART IX) WERE NOT REPORTED ON A CONSOLIDATED BASIS. UPON FURTHER REVIEW, IT WAS DETERMINED THAT THE PRESENTATION OF AN INVESTMENT IN SUBSIDIARY IN NET ASSETS ON THE BALANCE SHEET DOES NOT MEET THE IRS TECHNICAL REQUIREMENTS WHEN FILING A FORM 990 AND THE RETURN SHOULD NOT BE REPORTED ON A CONSOLIDATED BASIS. THEREFORE, THE AMOUNT REPORTED IN PART XI LINE 8 IS TO ADJUST THE OPENING BALANCE FOR THE ASSETS OF THE RELATED ORGANIZATION WHICH WERE REPORTED ON THE FORM 990 BALANCE SHEET. PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION 8360 OLD YORK ROAD ELKINS PARK PA 19027 233030893 FUNDRAISING PA 501(C)(3) LINE 11A, I SALUS UNIVERSITY 0 PENNSYLVANIA EAR INSTITUTE 8380 OLD YORK ROAD ELKINS PARK PA 19027 202888384 HEALTHCARE PA 501(C)(3) LINE 11A, I SALUS UNIVERSITY 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 1 1 0 1 PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION L 255000 VALUE OF SERVICES