2017-03-23T13:56:01-05:00 2016-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2015-07-01 231627436 Peirce College % ELIZABETH KRAPPVP FIN & ADM PEIR 8884673472 1420 Pine Street Philadelphia PA 19102 ELIZABETH KRAPP VP, FINANCE & ADMIN 2156709128 2017-03-20 true Frank Giardini P00532355 2155614200 2015 2021-01-29 14:40:06Z Elizabeth KrappVP FIN ADMIN 1420 Pine Street Philadelphia PA 19102 27146760 false X www.peirce.edu X 1963 PA We equip adult learners, in a personalized, student-centered environment, to achieve their goals and successfully fulfill workforce needs. 24 24 316 24 0 0 7142638 6407883 21187969 20031053 747570 557520 157605 131877 29235782 27128333 8585030 7969629 0 0 13440572 12877738 0 0 665775 6962556 7293555 28988158 28140922 247624 -1012589 37344387 36936082 7849605 8581374 29494782 28354708 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 22144037 7969629 20031053 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, 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. 22144037 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 2717 0 true 316 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 KRAPPVP FIN ADM 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 Stephanie Mays Boyd 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 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 Sickeles Board Member 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 James J Mergiotti President and CEO 40.0 0.0 X 664854 0 34883 Elizabeth M Krapp VP FINANCE/ADMINISTRATION 40.0 0.0 X 90000 0 6805 Tara McBride Board Secretary 40.0 0.0 X 56804 0 4641 Brad K Hodge VP OF STUDENT SERVICES 40.0 0.0 X 151465 0 16225 Rita Toliver VP OF ACADEMIC ADVANCEMENT 40.0 0.0 X 160116 0 32004 Lisa Paris VP of Marketing & Admissions 40.0 0.0 X 147237 0 31461 Uva C Coles VP Institutional Advancement 40.0 0.0 X 141935 0 31080 Harriet Golen VP OF HUMAN RESOURCES 40.0 0.0 X 135773 0 29799 Adrian Zappala Dean of Graduate Studies 40.0 0.0 X 125034 0 33788 James Burns CHIEF INFORMATION OFFICER 40.0 0.0 X 129422 0 34122 Jonathan Lenrow ASSOC DEAN OF AC OPS & FAC SUP 40.0 0.0 X 123689 0 17860 1926329 0 272668 15 false true false Allied Barton Security Services 161 Washington Street Ste 600 CONSHOHOCKEN PA 19428 security 249400 Harmelin Media 525 Righters Ferry Road BALA CYNWYD PA 19004 advertising 1107800 2 6069680 338203 6407883 TUITION AND FEES 812900 20031053 20031053 20031053 549153 549153 0 0 55593 55593 0 55593 55593 26794 18427 8367 8367 8367 0 0 0 BOOKSTORE 812900 53621 53621 VENDING FEES 812900 7690 7690 ALL OTHER 812900 14973 14973 76284 27128333 20031053 689397 0 7969629 7969629 0 0 1367491 685315 551718 130458 0 8364136 6409204 1696846 258086 464672 343172 102820 18680 1907572 1328406 554862 24304 773867 532901 199915 41051 0 95658 95658 30256 30256 0 0 34880 34880 615239 101652 490777 22810 1282254 1282254 132223 47709 74147 10367 1028240 896105 132135 0 209808 125482 67704 16622 46399 28458 17351 590 0 33962 27918 4080 1964 0 0 1293527 1073627 205671 14229 203030 1388 201642 PROVISION FOR LOSSES ON ACCOUN 691711 691711 MAINTENANCE & TECHNOLOGY 729331 176912 521509 30910 PRINTING 68218 4583 43650 19985 MEALS, BANQUETS, AND EVENTS 168558 32032 99805 36721 630261 385579 205684 38998 28140922 22144037 5331110 665775 X 0 0 278648 491070 606364 540578 889470 1094503 0 0 0 0 0 0 0 0 367148 107681 33277468 22307801 11868348 10969667 21931510 22086368 1296580 1536192 0 0 0 0 106319 110023 37344387 36936082 1447070 736397 0 0 245943 501198 0 0 0 0 0 0 2308596 2036498 0 1459285 3847996 3847996 7849605 8581374 X 26307408 25094093 2948130 3025193 239244 235422 29494782 28354708 37344387 36936082 X -1012589 -123663 -3822 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 253476 -1391 275 251810 238688 12116 2946 274 253476 223222 15731 265 238688 163182 54000 6390 350 223222 166086 -2429 475 163182 0.93490 0.06510 true false 27670 27670 17778900 8673345 9105555 15470898 13634456 1836442 10969667 0 REIMBURSEMENT CONTINGENCY 3847996 3847996 X 19031219 -123663 -3822 -127485 19158704 7969629 7969629 27128333 20171293 20171293 7969629 7969629 28140922 INTENDED USE OF ENDOWNMENT FUNDS Schedule D, Part V, Line 4 THE COLLEGE'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED FUNDS TO BE HELD IN PERPETUITY, WITH INCOME BEING USED TO FUND SCHOLARSHIPS. ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 Schedule D, Part X, Line 2 OTHER LIABILITIES 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 include 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 $(3,822) SCHEDULE D, PART XI, LINE 4B PELL/SEOG/PHEAA GRANTS: $5,298,381 SCHOLARSHIPS: $2,671,248 ------------ $7,969,629 OTHER AMOUNT APPEARING IN RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 4B PELL/SEOG/PHEAA GRANTS: $5,298,381 SCHOLARSHIPS: $2,671,248 ------------ $7,969,629 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 1322 3877528 Federal SEOG 173 147358 Unrestricted 598 2474228 Restricted by Donors 71 197020 Pennsylvania State Grant 407 1273495 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 306432 0 343686 0 14736 0 15900 0 18983 0 699737 0 0 0 Brad K Hodge VP OF STUDENT SERVICES 139465 0 12000 0 0 8368 0 7857 0 167690 0 0 0 Rita Toliver VP OF ACADEMIC ADVANCEMENT 152116 0 8000 0 0 9127 0 22877 0 192120 0 0 0 Lisa Paris VP of Marketing & Admissions 143237 0 4000 0 0 8584 0 22877 0 178698 0 0 0 Uva C Coles VP Institutional Advancement 136935 0 5000 0 0 8203 0 22877 0 173015 0 0 0 Harriet Golen VP OF HUMAN RESOURCES 130773 0 5000 0 0 7846 0 21953 0 165572 0 0 0 Adrian Zappala Dean of Graduate Studies 123834 0 1200 0 0 7409 0 26379 0 158822 0 0 0 James Burns CHIEF INFORMATION OFFICER 129422 0 0 0 7743 0 26379 0 163544 0 0 0 NONQUALIFIED RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B THE FOLLOWING REPRESENT AMOUNTS THAT WERE PAID DURING FISCAL YEAR ENDED JUNE 30,2016 TO THESE INDIVIDUALS: JAMES J. MERGIOTTI, PRESIDENT & CEO $84,648 ESTIMATED AMOUNTS WERE ACCRUED AND REPORTED IN PRIOR 990 FILINGS. THE FOLLOWING AMOUNT WAS ACCRUED FOR THIS INDIVIDUAL: JAMES J. MERGIOTTI, PRESIDENT & CEO $75,000 THIS AMOUNT WAS NOT INCLUDED IN THE PREVIOUS PAYOUT OR ACCRUALS AND REPRESENTS THE CURRENT ACCRUAL FOR THE CURRENT PERIOD BEGINNING FY15-16. Business Relationships Form 990, Part VI, Section A, Line 2 Margaret Sofio and Katherine McCluskey 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 THE 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 MAKE A PRESENTATION AT THE 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 POSSIBLE CONFLICT OF INTEREST. (B) THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE 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 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, DETERMINED THE BASIS HIRE-IN SALARY OF KEY EMPLOYEES. ANNUALLY, KEY EMPLOYEES ARE EVALUATED BY THE PRESIDENT USING A PERFORMANCE MANAGEMENT DOCUMENT (PMD) WHICH IS A STANDARD REVIEW USED BY ALL MANAGERS AND SUPERVISORS THROUGHOUT THE COLLEGE. THE PMD FOR EACH KEY EMPLOYEE IS ALSO REVIEWED BY HUMAN RESOURCES TO ENSURE EQUITY WITHIN 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'S 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 $(3,822) REIMBURSEMENT CONTINGENCY 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. The College is in the process of clarifying the agency's findings and claims. Once they are determined, the College expects to negotiate appropriate settlement terms with the agency. Since the initial accrual, the agency has lowered the expected reimbursement from the college. The College has not remitted any funds to the agency as of the submission date of this tax return and believes it is possible some reimbursement may be required. The accrued contingency can be found in other liabilities in Part X.