2017-04-18T16:28:04-07:00 2016-05-31 990 2015-06-01 250965430 MERCYHURST UNIVERSITY MERC 8148242000 501 East 38th Street Erie PA 165460002 David Myron Chief Financial Officer 8148242032 2017-04-18 2015 2021-01-29 14:40:06Z David P Myron 501 East 38th Street Erie PA 165460002 145868741 0 X www.mercyhurst.edu X 1926 PA Mercyhurst University is a fully accredited, four-year, Catholic comprehensive institution founded by the Sisters of Mercy in 1926. The Erie (Pa.) campus offers sixty-four (64) undergraduate majors with forty-eight (48) minors and fifty-four (54) concentrations, as well as unique adult programs and nine (9) graduate programs. In addition, the institution maintains one- and two-year programs at Mercyhurst North East (North East, Pa.) and two satellite campuses- Mercyhurst Corry (Corry, Pa.) and Mercyhurst at Booker T Washington (Erie). 31 26 2501 250 152636 135664 12182815 14070258 119553806 122375106 2436392 941681 116410 350275 134289423 137737320 49293087 51099662 0 0 43731132 44584790 0 0 921698 44154699 45939469 137178918 141623921 -2889495 -3886601 148696003 134866406 49134970 41919791 99561033 92946615 Consistent with its Catholic identity and Mercy heritage, Mercyhurst University educates women and men in a culture where faith and reason flourish together, where the beauty and power of the liberal arts combine with an appreciation for the dignity of work and a commitment to serving others. Confident in the strength of its student-faculty bonds, the University community is inspired by the image of students whose choices, in life and work, will enable them to realize the human and spiritual values embedded in everyday realities and to exercise leadership in service toward a just world. 0 0 73394844 42956426 97924674 During the 2015-16 academic year there were 3746 students enrolled in undergraduate, graduate, and associate degree programs on two campuses, Main (2524) and North East (756), and at two separate learning centers, Corry (49) and BTW (83). The student population was comprised of 2948 full-time and 477 part-time undergraduate students along with 169 full-time and 146 part-time graduate students. 1015 total degrees were conferred in the following categories; Baccalaureate 596, Associate 224, Masters 107, Post-baccalaureate 5, UG certificate 65 and Grad certificates 18. There are a total of 179 full-time and 78 part-time faculty and an offering of 9 graduate programs, 64 undergraduate majors with 48 minors and 54 concentrations on the Main campus, 23 associate degree programs on the North East campus and 4 associate degree programs at the University's two educational learning centers. Additionally, there are 8 undergraduate certificate programs, 9 advanced certificate programs and 12 graduate certificate programs. 14029998 0 20886239 Auxiliary services includes student housing, foodservice, the university bookstore and the university's conference center on the Main and North East campuses. The total student population in university housing was 1,671 on the Main campus and 156 on the North East campus for the 2014-15 fiscal year. 1517 students had paid meal plans while many other students and employees dine in university facilities on a pay-as-you-go basis. The university maintains a bookstore on the Main campus as well as the North East campus. The university has conference center facilities at both campuses and regularly hosts outside groups and organizations. 15702290 8096814 1214898 Mercyhurst University has 629 student-athletes making up 24 athletic teams, 12 women and 12 men, competing at both the NCAA Division I (Men's and Women's Hockey) and Division II levels. These teams are members of six different athletic conferences, with the preponderance of sports being affiliated with the Pennsylvania State Athletic Conference. The athletic department is also supported by athletic administration, athletic training, the recreational training facility and the department of sports information. The athletic department is comprised of 12 full-time head coaches and 12 part-time head coaches along with 11 full-time and 39 part-time assistant coaches. Athletic administration and support includes another 87 full- and part-time and student employees and the department also utilizes over 40 volunteers. The North East campus sponsors another 9 sports teams, 5 men and 4 women, and are members of the National Junior College Athletic Association. North East athletics includes another 151 student athletes along with 9 full-time coaches and 13 part-time coaches/graduate assistants, 2 full-time administrative personnel and 2 volunteers. 28787004 46422 2157378 All other program related activities. 28787004 46422 2157378 131914136 1 1 0 1 0 0 1 1 0 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 1 0 1 1 0 0 0 1 1 1 0 0 1 157 0 1 2501 1 1 1 1 CJ EI 0 0 0 1 1 0 0 0 0 X 31 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X David O Hewett CPA 8148242283 501 East 38th Street Erie PA 165460001 Bader RSM Sister Mary Ann Board of Trustees 1 0 X 0 0 0 Cavanaugh Terrence W Board of Trustees 1 0 X 0 0 0 Courneen JoAnne Vice Chair of Board 2 0 X 0 0 0 Dahlkemper Mary Ellen Assistant Board Secretary 2 0 X 0 0 0 Dausey David Chair, University Council 45 0 X X 144534 0 18195 Dobbs Vernon D Board of Trustees 1 0 X 0 0 0 Durkin Rosemary Board of Trustees 1 0 X 0 0 0 Gerety Jane Board of Trustees 1 0 X 0 0 0 Hosey-McGurk Joanne M Board of Trustees 45 0 X 63122 0 7766 Jeffress Andrea T Board of Trustees 1 0 X 0 0 0 Knight Charles G Board of Trustees 1 0 X 0 0 0 Koskoski Scott A President, Mercyhurst Alumni Assoc. 1 0 X 0 0 0 Kubiak Lev J Board of Trustees 1 0 X 0 0 0 Langer John H Board of Trustees 1 0 X 0 0 0 Lanzillo Richard A Vice Chair and Chair-elect of Board 2 0 X 0 0 0 Lewis William G Board of Trustees 1 0 X 0 0 0 Maher Yvonne J Board of Trustees 1 0 X 0 0 0 Masterson John W Board of Trustees 1 0 X 0 0 0 Mazza Robert Board of Trustees 1 0 X 0 0 0 McCormick Owen J Assistant Board Secretary 2 0 X 0 0 0 McDonald Desmond J Board of Trustees 1 0 X 0 0 0 Miller Robert S Board Secretary 2 0 X 0 0 0 Mosco Marlene D Chair of the Board 2 0 X 0 0 0 NeCastro Joseph G Vice Chair-elect of Board 2 0 X 0 0 0 Ohmer Caleb D President, Mercyhurst Student Government 2 0 X 9036 0 0 Pietraszek Margaret M Board of Trustees 1 0 X 0 0 0 Ryan M Ellen H Board of Trustees 1 0 X 0 0 0 Salvia Mark J Board of Trustees 1 0 X 0 0 0 Victor Michael T President & Board (Effective 8/1/15) 45 0 X X 151008 0 29045 Weschler Patrick J Board of Trustees 1 0 X 0 0 0 Zaphiris Peter J Board of Trustees 1 0 X 0 0 0 Nguyen Hoa T VP of Finance and Administration 45 0 X 175002 0 19283 Stepherson Jane K Assistant VP for Finance, Treasurer 45 0 X 114206 0 16618 Adovasio James M Professor and Dean of Zurn 45 0 X 242176 0 20666 Breckenridge James G Associate Professor of Intel Studies 45 0 X 150097 0 5074 Brown Gary M Sr VP and COO of NE McCauley College 45 0 X 168026 0 20466 Gamble Thomas J Director of Sponsored Research 45 0 X 235957 0 17561 Parikh Rajeev N Professor and Dean of Walker 45 0 X 152791 0 20407 Pond Floyd Deputy Director, HIDTA 45 0 X 141315 0 4659 1747270 0 179740 25 0 1 0 Annandale Office Center LLC 6715 Little River Turnpike Suite 100 Annandale VA 22003 Rent 375393 Joseph E Neilsen Jr 1012 Pennsylvania Ave Erie PA 165031544 Painting Services 165410 Knox McLaughlin Gornall & Sennett 120 W 10th St Erie PA 16501 Attorney 134675 BKD LLP 200 E Main Street Suite 700 Fort Wayne IN 468021900 Accounting and Auditing 124901 Thomas H Carr 17599 Greenleaf Place Round Hill VA 20141 HIDTA Administrator 101710 5 0 0 500 0 11567378 2502380 143444 14070258 Tuition and Fees 611310 97924674 97924674 0 0 Auxiliary Services 611310 20886239 20886239 0 0 Government Grants and Contracts 611310 1448625 1448625 0 0 Other Educational Related 611310 368076 368076 0 0 1747492 1742217 5275 0 122375106 870593 0 0 870593 0 0 0 0 0 0 0 0 160190 288288 140021 161812 20169 126476 146645 -20885 147361 20169 7527421 288795 7296523 448605 230898 -159810 71088 -159810 0 230898 288090 0 84460 203630 0 203630 0 0 0 0 0 0 0 0 0 0 0 0 0 137737320 122189136 152636 1325290 46422 46422 51053240 51053240 0 0 0 0 1348434 479350 757569 111515 232263 232263 0 0 32076117 29292195 2537763 246159 1131435 1046282 79284 5869 7467218 5822449 1484485 160284 2329323 2127990 186176 15157 0 0 0 0 102704 0 102704 0 150306 0 150306 0 103673 0 0 103673 0 0 70385 0 70385 0 13746492 13221210 508325 16957 900625 220077 678980 1568 4853045 4155183 616263 81599 3861530 3403331 430275 27924 0 0 0 0 3364606 3275514 57676 31416 2283702 2160382 104312 19008 0 0 0 0 1124265 856683 173821 93761 1477630 1477630 0 0 0 0 0 0 4400169 4400169 0 0 919839 226686 693153 0 Cost of Sales - Dining, Bookstore & Production 6504133 6504133 0 0 Bad Debt, Write-offs & Collections 448255 448255 0 0 Recruiting 304788 301893 2895 0 Athletic Team Expense 604210 604210 0 0 719112 558589 153715 6808 141623921 131914136 8788087 921698 0 0 7568450 147195 3820838 4695080 683687 641253 0 0 0 0 2215943 1954660 391277 385182 405642 504162 166408397 75576384 94633771 90832013 35565195 32285881 0 0 0 0 351040 290415 3060160 3130565 148696003 134866406 7883641 9596713 0 0 3614570 4408709 33690000 24630000 0 0 0 0 767151 558007 0 0 3179608 2726362 49134970 41919791 X 76361176 69788041 4889813 3947598 18310044 19210976 99561033 92946615 148696003 134866406 -3886601 -2727817 0 0 0 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 103673 103673 141520249 141623922 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 121702 110945 102500 103673 438820 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 Schedule C, Part II-A, Line 1c Mercyhurst University retains a lobbyist that provides many services to Mercyhurst including, but not limited to, advice on governmental grants and contracts, access and introductions to government agencies, government leaders, and media outlets, and advocacy on behalf of Mercyhurst. X 1 16.89 0 0 0 1 0 0 0 1 0 0 X X X 0 31517678 1977000 -1621453 911954 0 0 30961271 31007765 553363 1206165 1249615 0 0 31517678 28254650 519240 3219927 986052 0 0 31007765 25015609 321672 3880893 963524 0 0 28254650 27270132 261235 -1496073 1019685 0 0 25015609 0.3036 0.6205 0.0759 1 0 422168 3934567 4356735 0 119548948 47170100 72378848 0 4360 0 4360 0 26742168 23905421 2836747 0 15756186 4500863 11255323 90832013 Federal Government Advances 1868206 Student Deposits 819732 Trusts Payable 38424 2726362 X 85197942 -2727816 6120 0 574706 -2146990 87344932 60027 50332361 50392388 137737320 91812359 6120 0 0 574706 580826 91231533 60027 50332361 50392388 141623921 Schedule D, Part II, Line 9 The University does not derive any revenue from this agreement beyond the original $1 it received in entering into the agreement. As stated in question 7 above, there are no expenses exclusively or directly related to the easement agreement. Being that the 16.89 acres of the easement was part of the land purchased by the University, the fair market value of the easement is included on the University's books and financial statements as property, plant and equipment. There is not a separate footnote in the University financial statements addressing the easement agreement. Schedule D, Part III, Line 1 Collections of works of art, historical treasures and similar assets are not capitalized in as much as the items are preserved and cared for continuously. Contributions of collection items are not reported in the financial statements. The University's collections consist primarily of paintings, sculptures, and other works of art, books, and antique furniture. Schedule D, Part III, Line 4 The observance and study of works of art and historical treasures are part of the educational curriculum in many disciplines. The University maintains a collection to further and enhance the educational experience in these disciplines, which is the primary reason for the University's exempt purpose. Schedule D, Part V, Line 4 The University's endowment consists of individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments (board-designated endowment funds). Many of the individual funds established provide scholarships to students. Several other endowments support academic programs, the library, the performing arts center and other areas of the University. Schedule D, Part X, Line 2 Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. Schedule D, Part XI, Line 2d This line includes various items that are recorded as part of net revenues on Schedule VIII; Rental expenses (301,833), Loss on Disposition of Assets (159,811), Fundraising expenses (84,460), Administrative Cost Allowance (21,149), and Donated items (7,453). Schedule D, Part XI, Line 4b Financial assistance awarded to students of the institution which is recorded as a contra-revenue in the audited financial statements (50,332,361) as well as some revenue items that were previously net against expenses. Schedule D, Part XII, Line 2d This line includes various items that are recorded as part of net revenues on Schedule VIII; Rental expenses (301,833), Loss on Disposition of Assets (159,811), Fundraising expenses (84,460), Administrative Cost Allowance (21,149), and Donated items (7,453). Schedule D, Part XII, Line 4b Financial assistance awarded to students of the institution which is recorded as a contra-revenue in the audited financial statements (50,332,361) as well as some revenue items that were previously net against expenses. 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 practice is to print our racial nondiscrimination policy in all publications directed toward students, prospective students, and parents. The policy is also referred to in radio, television, and print advertising as well as being fully disclosed on the University's website. Schedule E, Part I, Line 6 The University receives an Institutional Assistance Grant from the Pennsylvania Higher Education Assistance Agency (PHEAA). This aid is determined by the number of Pennsylvania state grant recipients enrolled at the University during the current academic year. North America (including Canada and Mexico, but not the United States) 0 5 Fundraising Fundraising endeavors 470 North America (including Canada and Mexico, but not the United States) 0 21 Program Services Student recruiting and study abroad 31245 North America (including Canada and Mexico, but not the United States) 0 1 Speaking at Seminars or Conferences Employee educational conference 1365 Central America and the Caribbean 0 2 Program Services Student recruiting 12000 South America 0 6 Program Services Student recruiting and study abroad 91849 Europe (including Iceland and Greenland) 1 24 Program Services Student recruiting and study abroad including Mercyhurst College Ireland 692031 Europe (including Iceland and Greenland) 0 16 Speaking at Seminars or Conferences Numerous employee conferences and seminars 64014 South Asia 0 5 Program Services Student recruiting 45000 1 80 937974 1 0 1 1 0 0 Wrestling Team Golf Outing 18617 0 18617 0 2045 1409 1013 1024 0 Women's Hockey Beef n' Beatles 17331 500 16831 0 0 1951 1394 450 381 6 65334 0 65334 413 1901 12297 7410 5507 14741 101282 500 100782 413 3946 15657 9817 6981 15122 51936 48846 1 SafeNet 1702 French Street Erie PA 16501 251269524 501(c)(3) 7069 FMV NA To provide services to people victimized by domestic violence and relationship abuse. 28 11 University funded financial assistance based on need and merit provided to students attending Mercyhurst University. 3772 51053240 FMV Schedule I, Part I, Line 2 Every student who receives financial aid from the University must complete an annual Free Application for Federal Student Aid (FAFSA) form and make satisfactory academic progress in order to retain their aid. Reviews are also conducted on each student to ensure that their grades, academic standing, and major continue to qualify them for the financial aid. These review processes are conducted annually at the end of the University's spring term, prior to the renewal of financial aid packages for the students. X X X X X X 0 1 X X X X 1 0 0 0 0 0 0 1 0 Adovasio James M Professor and Dean of Zurn 240820 0 0 0 21659 0 7700 0 12966 0 283145 0 Breckenridge James G Associate Professor of Intel Studies 149344 0 0 0 1596 0 4588 0 486 0 156014 0 Brown Gary M Sr VP and COO of NE McCauley College 170950 0 0 0 2215 0 5334 0 15132 0 193631 0 Dausey David Chair, University Council 147000 0 0 0 1805 0 3063 0 15132 0 167000 0 Gamble Thomas J Director of Sponsored Research 234292 0 0 0 9081 0 2429 0 15132 0 260934 0 Nguyen Hoa T VP of Finance and Administration 175080 0 0 0 3172 0 6738 0 12545 0 197535 0 Parikh Rajeev N Professor and Dean of Walker 154500 0 0 0 762 0 4957 0 15450 0 175669 0 Victor Michael T President & Board (Effective 8/1/15) 152083 0 0 0 9307 0 22740 0 6305 0 190435 0 Schedule J, Part I, Line 1a (1) First Class or Charter Travel - The President is permitted to fly first class while certain other VPs are permitted if the trip is either cross country or international in nature. To the extent the spouse of an employee permitted to fly first class is required to accompany them on a particular trip, these privileges extend to the spouse. The University did not use any charter travel during the reporting period. (2) Travel for Companions - As part of his contract, the President is permitted to take his wife on trips that he makes for the University. The Provost and certain other Vice Presidents who are involved in fund raising and entertainment events are occasionally permitted to take their spouses or companions on such trips. All costs associated with spousal travel are treated as compensation. (4) Discretionary Spending - The President and the Provost incurred certain travel expenses without having to account to the institution under the accountable plan rules. These amounts have been reported as compensation to these individuals. (5) Housing Allowance or Residence for Personal Use - As a part of his contract the President is provided with a housing allowance and the former Vice President of Finance and Administration was provided a temporary housing allowance which all have been reported as compensation. (7) The President, as part of his contract, and the Provost received social club memberships. This benefit was considered taxable and taxed accordingly. (8) The President, as part of his contract, is provided a personal driver for events attending as a representative of the University. Schedule J, Part I, Line 1b The Organization provided payment and/or reimbursement to certain disqualified persons for certain expenses that were not done so in accordance with the Organization's written policies covering said expenses. Schedule J, Part I, Line 3 The Mercyhurst University Board of Trustees follows the recommendation of the Association of Governing Boards of Universities and universities when dealing with presidential compensation and therefore, adheres to best practices established. The process/policy for setting presidential compensation at Mercyhurst University is the following. At Mercyhurst University, the Committee on Compensation of the Board of Trustees is responsible for the compensation-setting function of the President. The committee consists of no fewer than three trustees appointed by the chair of the board, who will also name a chair and vice chair. These trustees must be independent, without a conflict of interest as it relates to this area, and may not have been employed by Mercyhurst University in the last five years. No member may be an executive of Mercyhurst University. In May, the Committee on Compensation evaluates the President's performance for the fiscal year-end May. The committee reviews the president's performance in light of the university's goals and objectives. In addition the committee reviews the President's compensation to ensure that his compensation complies with rules governing tax-exempt universities described in the Internal Revenue Code, complies with compensation rules and regulations promulgated by any other regulatory agency or legislative authority and aligns appropriately with compensation levels at comparable universities. They use this review as the basis for recommendations on the president's compensation. The committee negotiates the terms of the (new or renewed) president's contract and increases in compensation level, elements of the compensation package, and structure. The recommendation is then presented for approval of the full board. At this time the committee also requests the President to provide a list of goals and objectives for the institution and for the office of the president for the forthcoming year. This document provides the baseline used in evaluating the performance of the president 10 to 12 months later. This request is followed up in both October and February by a request of the Committee on Compensation to the President to prepare a report that assesses progress on each of the annual and standing objectives presented in the May report. Schedule J, Part I, Line 4 James Adovasio received $40,000 of a severance payment in calendar year 2015. Schedule J, Part I, Line 7 Discretionary Spending - The President, the Provost and certain other Vice Presidents incurred certain travel expenses and did not meet the accountable plan rules. These amounts have been reported as compensation to these individuals. A 2004 Series AandB CEHEBA 251536711 295435AA9 2004-10-08 18392510 Refunding of 1993 issue; reserve fund; issuance costs 0 0 0 B 2008 Series CEHEBA 251536711 295433AA9 2008-06-19 21676206 Refunding of 1997 issue, const of assets; rsv fund; issuance costs 0 0 0 A 13515000 0 18393479 1477006 15073 18145285 241878 0 0 0 0 0 1 0 1 1 B 2190000 0 21747548 1581608 58057 1378500 227454 0 0 18503638 0 0 2009 1 0 1 1 A 0 0 1 1 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 0 0 0 1 A 0 0 0 1 0 0 1 Wells Fargo Bank NA 6.9 1 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Schedule K, Part I, Column f-10/08/2004 18,392,510 2004 Series AandB On October 8, 2004, the University issued University Revenue Refunding Bonds, Series A of 2004 and Series B of 2004 (collectively, the 2004 Bonds) through the Authority. The 2004 Bond proceeds were used to finance a project consisting of (a) current refunding of all of the 1993 Bonds; and (b) the financing of the costs relating to the issuance of the 2004 Bonds. The 1993 Bond proceeds were used to finance a project consisting of (a) advance refunding of all outstanding debt under previously issued Bonds; (b) the construction of on-campus apartment buildings, townhouses and a parking deck; (c) the purchase of certain land and buildings on which the University is situated; (d) a portion of the costs associated with the construction of a concert hall; (e) the funding of a debt service reserve fund; and (f) the financing costs relating to the issuance of the 1993 Bonds. Schedule K, Part I, Column f-06/19/2008 21,676,206 2008 Series On June 19, 2008, the University issued University Revenue Bonds through the Authority. The 2008 Bond proceeds were used to finance a project consisting of (a) current refunding of all 1997 Bonds, (b) the financing of the construction of a four-story, approximately 100,000 square foot 320-bed residence hall on the University's Erie campus, (c) the financing of the construction of a two-story, approximately 22,000 square foot 75-bed residence hall on the University's North East campus, (d) the funding of a debt service reserve fund; and (e) the financing of the costs relating to the issuance of the 2008 Bonds. The 1997 Bond proceeds were used to finance a project consisting of (a) the acquisition of apartment buildings for student housing; (b) the completion and automation of the University's library; (c) the renovation of McAuley Hall; (d) the construction of additional University Facilities; (e) the funding of a debt service reserve fund; and (f) the financing of all or a portion of the costs relating to the issuance of the 1997 Bonds. Schedule K, Part IV, Line 2c-10/08/2004 18,392,510 2004 Series AandB The date that the rebate computation was performed was October 8, 2009 through May 31, 2016. Schedule K, Part IV, Line 2c-06/19/2008 21,676,206 2008 Series The date that the rebate computation was performed was June 19, 2009 through May 31, 2016. Exception for Schools Not Required 71532 Tuition Exchange Financial Aid Exception for Schools Not Required 38098 Merit Based Scholarship Financial Aid Exception for Schools Not Required 2000 Need Based Scholarship Financial Aid Exception for Schools Not Required 1200 Work Study Scholarship Financial Aid William Jeffress Spouse of Trustee 53423 Compensation 0 Judith Thomas Spouse of Key Employee 58505 Compensation 0 Heidi Hosey-McGurk Spouse of Trustee 102428 Compensation 0 Schedule L, Part IV (1) William Jeffress is the spouse of Trustee Andrea Jeffress, M.D. and he is an employee of Mercyhurst University. (2) Judith Thomas is the spouse of key employee James Adovasio and she is an employee of Mercyhurst University. (3) Heidi Hosey-McGurk is the spouse of Trustee Joanne Hosey-McGurk and she is an employee of Mercyhurst University. X 1 0 N/A X 225 FMV X 11 446257 FMV X Miscellaneous 8 74850 FMV 0 0 1 1 Schedule M, Part I, Line 32b Mercyhurst has an account with a financial/investment institution. When stock gifts are received they are delivered to this institution and sold by them on behalf of the University with the proceeds being deposited into our account. Schedule M, Part I, Line 33 The University does not capitalize works of art or archaeological artifacts, which is why the items are listed with $0 as the value and N/A with the valuation method. Form 990, Part VI, Section A, Line 2 Joseph G NeCastro (Trustee) family relationship with Mark J Salvia (Trustee) Form 990, Part VI, Section B, Line 11b The Form 990 for Mercyhurst University for the current fiscal year end was reviewed in detail by the Vice President for Finance and Administration, and by an independent accounting firm prior to filing with the IRS. In addition to management's review of the Form 990, each voting member of the Mercyhurst University Board of Trustees was e-mailed the final Form 990, including all required schedules. Trustees were given an opportunity to ask questions and provide feedback to management prior to the filing of the return with the IRS. Form 990, Part VI, Section B, Line 12c Mercyhurst University has a written Conflict of Interest Policy. All officers, Trustees, and members of the President's staff are required to disclose to the Board of Trustees any possible conflict of interest at the earliest practical time. Further, the Trustee shall absent him or her from discussion of, and abstain from voting on, such matters under consideration by the Board of Trustees or its committees. Each officer, Trustee, and member of the President's staff shall complete and sign by May 15 of each year (or the first business day thereafter if May 15 falls on a weekend or holiday) a conflict of interest disclosure form provided annually by the Secretary of the Board of Trustees. The annual conflict of interest disclosure forms are reviewed first by the Chair of the Board of Trustees, who also serves as Chair of the Executive Committee and by the full Executive Committee of the Board of Trustees typically at its Fall meeting. Copies of the annual conflict of interest disclosure forms are provided to the Executive Committee of the Board of Trustees, the Chair of the Board of Trustees, the Secretary of the Board of Trustees, the Chair of the Committee on Audit, the external audit firm, and the President of the University. In February 2013, the Board of Trustees introduced a mid-year Conflict of Interest Update to the annual Disclosure Form to enable those covered by the Conflict of Interest Policy to disclose any new conflicts that have arisen since the completion of the annual conflict of interest disclosure form. Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 - The President reviews compensation increases for all employees. The President specifically makes recommendations for salary increases for employees who report directly to him. Salary increases are merit based, based upon the President's assessment of the individual's performance. In the spring the President presents his recommendations to the Committee on Compensation of the Board of Trustees for review and approval. The committee reviews the compensation requests to ensure that their compensation reflects Mercyhurst University's compensation philosophy, complies with rules governing tax-exempt universities described in the Internal Revenue Code, complies with compensation rules and regulations promulgated by any other regulatory agency or legislative authority and aligns appropriately with compensation levels at comparable universities. After approval salary increases are communicated to employees in the form of an annual appointment letter signed by either the President, the Provost, or the Vice President for Finance and Administration. Form 990, Part VI, Section C, Line 19 Mercyhurst University posts its website its public disclosure requirement for Federal Form 990 and 990T. Additionally, on that website, it alerts users that if they wish to obtain either the University's Conflict of Interest policy or the governing documents of the University, they are available upon request. Financial statements are not available. Mercyhurst College Ireland Dungarvan Enterprise Centre Parnell Street Dungarven County Waterford EI X35 FX45 000510643 Advancement and Educational EI Mercyhurst University C 416248 151085 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 Mercyhurst College Ireland p 282082 Actual Cost of Educational Programs