2017-05-15T11:09:02-05:00 2016-06-30 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2015-07-01 042104229 STONEHILL COLLEGE INC STON 5085651345 320 WASHINGTON STREET EASTON MA 02357 JEANNE FINLAYSON VP FINANCE & TREASURER 5085651345 2017-05-11 1 CRAIG KLEIN P00734640 6177610600 2017-05-11 2015 2021-01-29 14:40:06Z REV JOHN DENNING CSC 320 WASHINGTON STREET EASTON MA 02357 166086558 0 X WWW.STONEHILL.EDU X 1934 MA STONEHILL COLLEGE, A CATHOLIC INSTITUTION OF HIGHER LEARNING FOUNDED BY THE CONGREGATION OF THE HOLY CROSS, IS A COMMUNITY OF SCHOLARSHIP AND FAITH, ANCHORED BY A BELIEF IN THE INHERENT DIGNITY OF EACH PERSON. THROUGH ITS CURRICULUM OF LIBERAL ARTS AND SCIENCES AND PRE-PROFESSIONAL PROGRAMS, STONEHILL COLLEGE PROVIDES AN EDUCATION OF THE HIGHEST CALIBER THAT FOSTERS CRITICAL THINKING, FREE INQUIRY AND THE INTERCHANGE OF IDEAS. STONEHILL COLLEGE EDUCATES THE WHOLE PERSON SO THAT EACH STONEHILL GRADUATE THINKS, ACTS, AND LEADS WITH COURAGE TOWARD THE CREATION OF A MORE JUST AND COMPASSIONATE WORLD. 32 31 1730 550 4049 -83938 5386864 5548235 122287376 130425635 12123142 4869629 -51419 -42312 139745963 140801187 41381561 47032457 0 0 52381460 53911676 25661 174420 2725718 40061573 40277455 133850255 141396008 5895708 -594821 357905000 340447589 105029218 100733888 252875782 239713701 X STONEHILL COLLEGE, A CATHOLIC INSTITUTION OF HIGHER LEARNING FOUNDED BY THE CONGREGATION OF THE HOLY CROSS, IS A COMMUNITY OF SCHOLARSHIP AND FAITH, ANCHORED BY A BELIEF IN THE INHERENT DIGNITY OF EACH PERSON. THROUGH ITS CURRICULUM OF LIBERAL ARTS AND SCIENCES AND PRE-PROFESSIONAL PROGRAMS, STONEHILL COLLEGE PROVIDES AN EDUCATION OF THE HIGHEST CALIBER THAT FOSTERS CRITICAL THINKING, FREE INQUIRY AND THE INTERCHANGE OF IDEAS. STONEHILL COLLEGE EDUCATES THE WHOLE PERSON SO THAT EACH STONEHILL GRADUATE THINKS, ACTS, AND LEADS WITH COURAGE TOWARD THE CREATION OF A MORE JUST AND COMPASSIONATE WORLD. 0 0 120989431 47032457 130320582 STONEHILL IS A SELECTIVE CATHOLIC COLLEGE LOCATED NEAR BOSTON ON A BEAUTIFUL 384 ACRE CAMPUS IN EASTON, MASSACHUSETTS. WITH A STUDENT: FACULTY RATIO OF 12.3 TO 1, THE COLLEGE ENGAGES 2,481 STUDENTS IN 80+ RIGOROUS ACADEMIC PROGRAMS IN THE LIBERAL ARTS, SCIENCES, AND PRE-PROFESSIONAL FIELDS. THE STONEHILL COMMUNITY HELPS STUDENTS TO DEVELOP THE KNOWLEDGE, SKILLS, AND CHARACTER TO MEET THEIR PROFESSIONAL GOALS AND TO LIVE LIVES OF PURPOSE AND INTEGRITY. 120989431 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 453 0 1 1730 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 31 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X JEANNE M FINLAYSON 5085651337 320 WASHINGTON STREET EASTON MA 02357 REV JOHN DENNING CSC PRESIDENT 35.00 0.00 X X 0 0 30434 VICKI BALSAMO BOARD MEMBER 1.00 0.00 X 0 0 0 JOSEPH BASILE BOARD MEMBER 1.00 0.00 X 0 0 0 REV E WILLIAM BEAUCHAMP CSC BOARD MEMBER 1.00 0.00 X 0 0 0 PATRICK BURKE BOARD MEMBER 1.00 0.00 X 0 0 0 DANIEL COUGHLIN BOARD MEMBER 1.00 0.00 X 0 0 0 REV WILLIAM DAILY CSC BOARD MEMBER 1.00 0.00 X 0 0 0 DANIEL DEVASTO BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN DOHERTY BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN DREW BOARD MEMBER 1.00 0.00 X 0 0 0 M ELIZABETH FINI BOARD MEMBER 1.00 0.00 X 0 0 0 BRIAN J GAFFNEY BOARD MEMBER 1.00 0.00 X 0 0 0 REV ANTHONY GRASSO CSC BOARD MEMBER 1.00 0.00 X 0 0 0 PATRICK GRIFFIN BOARD MEMBER 1.00 0.00 X 0 0 0 ELIZABETH HAYDEN BOARD MEMBER 1.00 0.00 X 0 0 0 MICHAEL HERLIHY BOARD MEMBER 1.00 0.00 X 0 0 0 REV DANIEL ISSING CSC BOARD MEMBER 1.00 0.00 X 0 0 0 REV PAUL KOLLMAN CSC BOARD MEMBER 1.00 0.00 X 0 0 0 REV THOMAS LOONEY CSC BOARD MEMBER 1.00 0.00 X 0 0 0 THOMAS MAY BOARD MEMBER 1.00 0.00 X 0 0 0 SHERILYN MCCOY BOARD MEMBER 1.00 0.00 X 0 0 0 LEO MEEHAN BOARD MEMBER 1.00 0.00 X 0 0 0 KATHLEEN MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 MARSHA MOSES BOARD MEMBER 1.00 0.00 X 0 0 0 REV THOMAS O'HARA CSC BOARD MEMBER 1.00 0.00 X 0 0 0 REV HUGH R PAGE JR PHD BOARD MEMBER 1.00 0.00 X 0 0 0 REV JOHN PAIGE CSC BOARD MEMBER 1.00 0.00 X 0 0 0 JEAN RAYMOND BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT RIVERS BOARD MEMBER 1.00 0.00 X 0 0 0 REV JOHN RYAN CSC BOARD MEMBER 1.00 0.00 X 0 0 0 CARMEL SHIELDS BOARD MEMBER 1.00 0.00 X 0 0 0 BRO DONALD STABROWSKI CSC BOARD MEMBER 1.00 0.00 X 0 0 0 JEANNE FINLAYSON VP FOR FINANCE & TREASURER 35.00 0.00 X 228661 0 64552 THOMAS FLYNN CLERK/GENERAL COUNSEL 35.00 0.00 X 153753 0 40721 JOSEPH FAVAZZA PROVOST/VP OF ACADEMIC AFFAIRS 35.00 0.00 X 219051 0 69594 FRANCIS DILLON VP FOR ADVANCEMENT 35.00 0.00 X 204717 0 33098 CRAIG BINNEY ASSOC. VP OF FINANCE 35.00 0.00 X 175639 0 62543 PAULINE DOBROWSKI VP FOR STUDENT AFFAIRS 35.00 0.00 X 151745 0 40198 JAMES LEE FACULTY - PROFESSOR 35.00 0.00 X 165476 0 44276 MARIA CURTIN DEAN OF FACULTY 35.00 0.00 X 156381 0 40921 DEBRA SALVUCCI FACULTY - PROFESSOR 35.00 0.00 X 158551 0 56952 ROBERT ROSENTHAL FACULTY - PROFESSOR 35.00 0.00 X 157326 0 29424 TAMARA ANDERSON CHIEF INFORMATION OFFICER 35.00 0.00 X 150764 0 44175 CHISTOPHER LYDON UNTIL 62015 VP FOR ENROLLMENT/MARKETING 35.00 0.00 X 117567 0 27531 2039631 0 584419 72 1 1 0 CONGREGATION OF THE HOLY CROSS PO BOX 774 NOTRE DAME IN 46556 ADMIN & INSTRUCTIONAL SERVICES 741429 ARCADIA UNIVERSITY PO BOX 8500-1575 PHILIDELPHIA PA 19178 EDUCATIONAL SERVICES 463627 ROYALL & COMPANY 1920 E PARHAM ROAD RICHMOND VA 23228 MARKETING SERVICES 324418 DANISH INSTITUTE STUDY ABROAD SUITE 113 1313 FIFTH ST SE MINNEAPOLIS MN 55414 EDUCATIONAL SERVICES 310350 GYKANTLER 175 CANAL STREET MANCHESTER NH 33011 MARKETING SERVICES 240033 8 211582 963034 4373619 1067516 5548235 TUITION AND FEES 900099 94502275 94502275 AUXILLARY SERVICES 900099 33980122 33980122 OTHER EDUCATIONAL SERVICES 900099 1943238 1838185 105053 130425635 3456957 -117267 3574224 26534700 25122028 1412672 1412672 16263 1396409 121031 211582 163343 -42312 -42312 140801187 130320582 4049 4928321 74806 74806 46957651 46957651 1135181 374382 564728 196071 38599785 29813583 7541828 1244374 3257038 2515661 636377 105000 8031791 6203570 1569293 258928 2887881 2230533 564249 93099 126032 126032 221872 221872 174420 174420 1910649 1910649 1839350 1185272 654078 762333 543155 219078 100 1411967 1194677 90098 127192 216540 216540 4258985 3918266 298129 42590 1964768 1804092 105579 55097 1403606 1052159 268278 83169 1403097 1364372 38725 7002992 6652281 176316 174395 590758 574453 16305 DINING SERVICES 5174729 5174542 187 STUDY ABROAD & INTERNSH 3512368 3512368 EQUIPMENT RENTAL AND MA 3008410 2015800 969072 23538 BOOKS AND DUES 982268 843565 100719 37984 4486731 2767703 1609267 109761 141396008 120989431 17680859 2725718 9678404 7592397 1357304 1416725 2300161 1214813 248598 540237 1466810 1368675 87780 73107 923994 732289 237643552 95760217 144212836 141883335 70278939 49518497 125258163 133980471 2092011 2127043 357905000 340447589 3301471 1696140 905596 1181217 76000802 73780316 3748519 2766370 21072830 21309845 105029218 100733888 X 195278276 188274523 22882391 15169610 34715115 36269568 252875782 239713701 357905000 340447589 X -594821 -7739131 -4828129 X 0 1 X 1 1 1 X 4306912 15076972 4951255 5386864 5548235 35270238 4306912 15076972 4951255 5386864 5548235 35270238 4366355 30903883 1774710 1432753 2424508 3839820 3456957 12928748 22969 11856 34825 183331 132981 179242 154431 121031 771016 49004827 612535008 0.63060 0.67900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 PART II-B, LINE 1: STONEHILL COLLEGE PAYS MEMBERSHIP DUES TO MEMBER ORGANIZATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES ON BEHALF OF THEIR MEMBERS. THEREFORE A PORTION OF THE DUES PAID TO THESE ORGANIZATIONS MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES. X X 0 188638643 2759146 -5051444 1653125 5954819 178738401 190987117 2004946 2876678 1539130 5690968 188638643 171222793 1541824 24867811 1351525 5293786 190987117 146701998 13257076 17455290 1126028 5065543 171222793 151225567 1240466 251946 1057906 4958075 146701998 0.74320 0.18930 0.06750 0 0 752119 752119 181114760 60564513 120550247 531567 459654 71913 37025609 25047090 11978519 18219497 9688960 8530537 141883335 HEDGE FUNDS & PRIVATE EQUITIES 133980471 F 133980471 INTEREST RATE SWAP AGREEMENTS 12088970 INTEREST & ACCRUED LIABILITIES 4466534 GOVERNMENT ADV. FOR STUDENT LOANS 925236 ACCRUED PAYROLL AND OTHER BENEFITS 3703178 ANNUITY OBLIGATIONS 125927 21309845 X 79528970 -7739131 -4664786 -12403917 91932887 1910649 46957651 48868300 140801187 92691051 163343 163343 92527708 1910649 46957651 48868300 141396008 PART III, LINE 4: STONEHILL COLLEGE MAINTAINS A COLLECTION OF HISTORICAL ARTIFACTS FOR PUBLIC EXHIBITION AND EDUCATION IN FURTHERANCE OF PUBLIC SERVICE AND NOT FOR FINANCIAL GAIN. THE COLLEGE DOES NOT CAPITALIZE ITS COLLECTION OF HISTORICAL ARTIFACTS. PART V, LINE 4: ENDOWMENT FUNDS ARE SPENT IN ACCORDANCE WITH DONOR RESTRICTIONS. THE FUNDS ARE INVESTED TO PRESERVE SHONEHILL'S PURCHASING POWER WHILE PROVIDING A CONTINUING AND STABLE FUNDING SOURCE TO SUPPORT THE MISSION OF THE COLLEGE. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR THE EFFECT ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE COLLEGE HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS ITS ONLY SIGNIFICANT TAX POSITION; HOWEVER, THE COLLEGE HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE COLLEGE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE COLLEGE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON INTEREST RATE SWAP -4,828,129. FUNDRAISING EVENT EXPENDITURES 163,343. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER AWARDS 46,957,651. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 163,343. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER AWARDS 46,957,651. 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 FOLLOWING STATEMENT IS INCLUDED IN ALL BROCHURES, CATALOGUES, AND OTHER COMMUNICATIONS WITH THE PUBLIC DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS: "STONEHILL COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, GENDER, DISABILITY, AGE, MARITAL STATUS, RELIGION, COLOR, SEXUAL ORIENTATION, OR NATIONAL ORIGIN, IN ADMISSIONS TO, ACCESS TO, TREATMENT IN OR EMPLOYMENT IN ITS PROGRAMS AND ACTIVITIES, EXCEPT WHERE SUCH CONDITIONS MAY CONSTITUTE BONA FIDE QUALIFICATIONS FOR THE PROGRAM OR ACTIVITIES IN QUESTION. SCHEDULE E, PART I, LINE 6 THIS INSTITUTION AND ITS STUDENTS PARTICIPATE IN THE FOLLOWING FEDERAL FUNDED PROGRAMS: FEDERAL PELL GRANT, FEDERAL PERKINS LOAN, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANT, AND FEDERAL WORK STUDY. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 2672676 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 446475 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 40450 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 104325 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 112955 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 54750 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES STUDY ABROAD 10000 0 0 0 0 0 0 3441631 0 3441631 1 0 1 1 1 0 PART I, LINE 3: THE ORGANIZATION REPORTS THESE FOREIGN EXPENDITURES AS REPORTED IN THE FINANCIAL RECORDS. X X X X X X X 1 WASHBURN & MCGOLDRICK INC 950 NEW LONDON ROAD SUITE 210 LATHAM NY 12110 FUNDRAISING CONSULTING 0 0 174420 0 174420 MA GOLF TOURNAMENT 120710 74014 46696 17760 27725 2570 12219 DINNER 86975 55925 31050 50754 9729 7 124928 81643 43285 42586 332613 211582 121031 17760 70311 53324 21948 163343 -42312 SCHEDULE G, PART I: SERVICES PROVIDED BY WASHBURN & MCGOLDRICK, INC. WERE NOT ASSOCIATED WITH ANY SPECIFIC FUNDRAISING EVENT. 1 UMASS BOSTON - CENTER FOR SOCIAL DEVELOPMENT & EDUCATION 100 MORRISSEY BLVD 10TH FLR HEALY LIBRARY RM 10-28A BOSTON MA 02125 GOV'T 13000 SUPPORT FOR CAMP SHRIVER PROGRAM TRINITY CATHOLIC ACADEMY 35 ERIE AVE BROCTON MA 02302 510638517 501(C)(3) 6400 GENERAL SUPPORT 2 0 TUITION ASSISTANCE 2267 46957651 FMV SCHOLARSHIPS PART I, LINE 2: THE COLLEGE AWARDS GRANTS ON A FISCAL YEAR BASED ACCORDING TO THE OVERALL YEARLY BUDGET. INDIVIDUAL AWARDS ARE PACKAGED BASED ON AN OVERALL COLLEGE STRATEGY EMPLOYING NEED AND MERIT CRITERIA. THE COLLEGE'S FINANCIAL AID OFFICE WORKS WITH OUTSIDE CONSULTANTS TO PREPARE PACKAGES. THE FINANCIAL AID OFFICE WORKS WITH STUDENTS TO ACCEPT AND/OR ADJUST INDIVIDUAL GRANTS. THE COLLEGE ALSO PROVIDES CHARITABLE SUPPORT TO U.S. SECTION 501(C)(3) PUBLIC CHARITIES IN FURTHERANCE OF ITS MISSION. X 1 1 X X X 0 0 0 0 0 0 0 0 0 JEANNE FINLAYSON VP FOR FINANCE & TREASURER 228177 0 0 0 484 0 28952 0 35600 0 293213 0 0 0 THOMAS FLYNN CLERK/GENERAL COUNSEL 153625 0 0 0 128 0 18466 0 22255 0 194474 0 0 0 JOSEPH FAVAZZA PROVOST/VP OF ACADEMIC AFFAIRS 217684 0 0 0 1367 0 28422 0 41172 0 288645 0 0 0 FRANCIS DILLON VP FOR ADVANCEMENT 202470 0 0 0 2247 0 24645 0 8453 0 237815 0 0 0 CRAIG BINNEY ASSOC. VP OF FINANCE 175284 0 0 0 355 0 21798 0 40745 0 238182 0 0 0 PAULINE DOBROWSKI VP FOR STUDENT AFFAIRS 151621 0 0 0 124 0 18137 0 22061 0 191943 0 0 0 JAMES LEE FACULTY - PROFESSOR 162793 0 0 0 2683 0 19252 0 25024 0 209752 0 0 0 MARIA CURTIN DEAN OF FACULTY 155698 0 0 0 683 0 18137 0 22784 0 197302 0 0 0 DEBRA SALVUCCI FACULTY - PROFESSOR 158129 0 0 0 422 0 15021 0 41931 0 215503 0 0 0 ROBERT ROSENTHAL FACULTY - PROFESSOR 155775 0 0 0 1551 0 18090 0 11334 0 186750 0 0 0 TAMARA ANDERSON CHIEF INFORMATION OFFICER 150224 0 0 0 540 0 18219 0 25956 0 194939 0 0 0 CHISTOPHER LYDON UNTIL 62015 VP FOR ENROLLMENT/MARKETING 117367 0 0 0 200 0 10615 0 16916 0 145098 0 0 0 SCHEDULE J, PART I: STONEHILL COLLEGE PAID FOR PROFESSIONAL SERVICES BASED ON MARKET COMPENSATION AND BENEFITS, TOTALING $1,138,591 TO THE CONGREGATION OF THE HOLY CROSS FOR INSTRUCTIONAL, ADMINISTRATIVE, AND INSTITUTIONAL SERVICES. INDIVIDUAL MEMBERS OF THE CONGREGATION ADHERE TO THE VOW OF POVERTY. SCHEDULE J, PART I, LINES 1A & 1B: AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF STONEHILL COLLEGE, THE PRESIDENT RECEIVED NON-TAXABLE HOUSING ON CAMPUS. A MHEFA SERIES K 042456011 57586CV77 2008-04-03 68920000 REFINANCE SERIES I, J, PARTIAL G 0 0 0 B MHEFA SERIES L 042456011 57586ELC3 2009-08-05 22197354 CONSTRUCT 250 BED RESIDENCE HALL 0 0 0 A 12545000 68920000 352549 34777 68532674 2009 1 0 1 1 B 4285000 22197354 385520 21811834 2010 0 0 1 1 A 0 1 0 0 0.00040 0.02650 0.02690 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 0 1 1 BANK OF AMERICA NA 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART II, LINE 13: YEAR OF SUBSTANTIAL COMPLETION - FOR BOND ISSUE A, YEAR OF SUBSTANTIAL COMPLETION REFERS TO THE PROJECTS FINANCED BY PROCEEDS OF THE REFUNDED BONDS. SCHEDULE K, PART IV, COLUMN A, LINE 4C: THERE ARE 3 TERMS TO THE INTEREST RATE SWAP: 20.2 YEARS 20.1 YEARS 29.1 YEARS SUBSTANTIAL CONTRIBUTOR SEE STATEMENT 624875 SALE OF PRODUCTS 0 SCHEDULE L, PART IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: SUBSTANTIAL CONTRIBUTOR IS A COMPANY OWNED BY A TRUSTEE AND HIS FAMILY. STONEHILL COLLEGE PURCHASED PRODUCTS FROM THE COMPANY. X 13 1067516 PUBLICLY TRADED 0 0 1 0 PART I, COLUMN (B): AMOUNTS REPORTED IN PART I, COLUMN B, REPRESENT THE TOTAL NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF TRUSTEES MAY APPOINT AN EXECUTIVE COMMITTEE AND MAY DELEGATE TO ANY SUCH COMMITTEE SOME OR ALL OF THEIR POWERS EXCEPT THOSE WHICH BY LAW, THE ARTICLES OF INCORPORATION, OR THE BYLAWS THEY MAY NOT DELEGATE. FORM 990, PART VI, SECTION A, LINE 6 STONEHILL COLLEGE HAS TWO CLASSES OF MEMBERS: INCORPORATORS AND FELLOWS. THE INCORPORATORS CONSIST OF THE UNITED STATES PROVINCE OF PRIESTS AND BROTHERS, EX-OFFICIO, AND ALL PERPETUALLY PROFESSED RELIGIOUS OF THE CONGREGATION OF THE HOLY CROSS SERVING FROM TIME TO TIME AT STONEHILL COLLEGE. THE FELLOWS ARE MADE UP OF INDIVIDUALS WHO ARE INCORPORATORS, FACULTY, PART OF THE PRESIDENT'S COUNCIL, ALUMNI, AND STUDENTS. THE FELLOWS' SOLE POWER AND AUTHORITY IS TO ELECT THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A STONEHILL COLLEGE HAS TWO CLASSES OF MEMBERS: INCORPORATORS AND FELLOWS. THE INCORPORATORS CONSIST OF THE UNITED STATES PROVINCE OF PRIESTS AND BROTHERS, EX-OFFICIO, AND ALL PERPETUALLY PROFESSED RELIGIOUS OF THE CONGREGATION OF THE HOLY CROSS SERVING FROM TIME TO TIME AT STONEHILL COLLEGE. THE FELLOWS ARE MADE UP OF INDIVIDUALS WHO ARE INCORPORATORS, FACULTY, PART OF THE PRESIDENT'S COUNCIL, ALUMNI, AND STUDENTS. THE FELLOWS' SOLE POWER AND AUTHORITY IS TO ELECT THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED AND SIGNED BY CBIZ TOFIAS AS PAID PREPARER. THE FORM 990 IS FIRST REVIEWED BY STONEHILL COLLEGE'S INTERNAL MANAGEMENT. FOLLOWING THAT REVIEW, STONEHILL COLLEGE'S INTERNAL MANAGEMENT AND PAID PREPARER PRESENT THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FORM BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE REQUIRES ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. QUESTIONNAIRES ARE COLLECTED AND REVIEWED BY THE OFFICE OF THE GENERAL COUNSEL. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AT ANY LEVEL AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WHICH IS DETERMINED ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 15 STONEHILL COLLEGE ANNUALLY REVIEWS THE SALARIES OF ITS EXECUTIVE LEVEL MANAGEMENT WITH THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE HUMAN RESOURCE OFFICE PROVIDES COMPARABLE MARKET DATA ON THESE POSITIONS AT SIMILAR SIZE INSTITUTIONS. THE COLLEGE PRESIDENT MAKES SALARY RECOMMENDATIONS FOR HIS (HER) TOP MANAGEMENT REPORTS AND THE CHAIRMAN OF THE BOARD OF TRUSTEES MAKES A RECOMMENDATION ON THE PRESIDENT'S SALARY TO BE PAID TO THE CONGREGATION OF THE HOLY CROSS. COMPENSATION RECOMMENDATIONS ARE APPROVED BY THE COMPENSATION COMMITTEE. STONEHILL COLLEGE'S PRESIDENT IS A MEMBER OF THE CONGREGATION OF THE HOLY CROSS AND HAS TAKEN A VOW OF POVERTY, ALONG WITH OTHER MEMBERS OF THE HOLY CROSS COMMUNITY WHO PROVIDE SERVICES TO STONEHILL COLLEGE. TOTAL PAYMENT TO THE CONGREGATION OF THE HOLY CROSS IN FY2016 WAS $1,138,591. FORM 990, PART VI, SECTION C, LINE 19 AT THIS TIME, STONEHILL COLLEGE DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE COLLEGE POSTS ITS FINANCIAL STATEMENTS TO THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE AT EMMA.MSRB.ORG AS WELL AS ON THEIR OWN WEBSITE AT STONEHILL.EDU, WHERE THEY ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: NET LOSS FROM INTEREST RATE SWAPS -4,828,129. PERPETUAL TRUSTS (2) TRUST MA STONEHILL COLLEGE INC T 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NA