2016-03-29T07:16:14-05:00 2015-05-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 18701 990 2014-06-01 240795506 WILKES UNIVERSITY WILK 5704084500 84 WEST SOUTH STREET WILKES BARRE PA 18766 LOREN D PRESCOTT JR VICE PRESIDENT OF FINANCE 5704084500 2016-03-21 1 JULIUS GREEN CPA P00350393 5708200100 2014 2016-08-17 19:52:53Z PRESIDENT PATRICK LEAHY 84 WEST SOUTH ST WILKES BARRE PA 18766 122742567 0 X WWW.WILKES.EDU X 1933 PA TO EDUCATE THROUGH A COMMITMENT TO ATTENTION, EXCEPTIONAL TEACHING AND ACADEMIC EXCELLENCE. 30 29 1841 300 0 0 4830767 6008875 105585785 108315859 3737842 3546109 2492225 2323099 116646619 120193942 29820503 31235249 0 0 45713027 50599289 0 0 1442574 33063320 33322309 108596850 115156847 8049769 5037095 201023202 201180987 97065749 94944504 103957453 106236483 X PLEASE SEE SCHEDULE O FOR DETAIL.TO CONTINUE THE WILKES TRADITION OF LIBERALLY EDUCATING OUR STUDENTS FOR LIFELONG LEARNING AND SUCCESS IN A CONSTANTLY EVOLVING AND MULTICULTURAL WORLD THROUGH A COMMITMENT TO INDIVIDUALIZED ATTENTION, EXCEPTIONAL TEACHING, SCHOLARSHIP AND ACADEMIC EXCELLENCE, WHILE CONTINUNING THE UNIVERSITY'S COMMITMENT TO COMMUNITY ENGAGEMENT. 1 0 34239981 96370763 INSTRUCTION INCLUDES ALL EXPENDITURES FOR ACTIVITIES THAT ARE PART OF THE INSTITUION'S INSTRUCTIONAL PROGRAMS. THIS INCLUDES CREDIT AND NON-CREDIT COURSES, ACADEMIC, VOCATIONAL, AND TECHNICAL INSTRUCTION. THE UNIVERSITY OFFERS 44 UNDERGRADUATE MAJORS, 13 GRADUATE PROGRAMS AND SEVERAL PRE-PROFESSIONAL PROGRAMS. ENROLLMENT INCLUDES 2,217 FULL-TIME UNDERGRADUATE STUDENTS FROM OVER 20 STATES AND 11 FOREIGN COUNTIRES. CLASS SIZES ARE KEPT SMALL TO ENABLE GREATER ACCESS TO PROFESSORS AND MORE INDIVIUALIZED ATTENTION IN THE CLASSROOM. UNDERGRADUATE FRESHMAN CLASS SIZES AVERAGE 24 STUDENTS WITH 20 STUDENTS FOR UPPER LEVEL CLASSES. WILKES IS DEDICATED TO BEING A LEADER IN HIGHER EDUCATION THROUGHOUT THE NORTHEASTERN UNITED STATES AND IS DEDICATED TO ACADEMIC EXCELLENCE THROUGH MENTORING. 33780485 31235249 SCHOLARSHIP- INCLUDES EXPENDITURES FOR GENERAL, NEED BASED, AND ENDOWMENT SCHOLARSHIPS AND FELLOWSHIPS FROM RESTRICTED OR UNRESTRICTED CURRENT FUNDS IN THE FORM OF GRANTS TO STUDENTS, RESULTING FROM SELECTION BY DIVISION OF ENROLLMENT MANAGEMENT. AT LEAST 90% OF STUDENTS RECEIVED SOME FORM OF FINANCIAL AID. GRANTS AWARDED INCLUDE PENNSYLVANIA STATE GRANTS (PHEAA), SEOG SCHOLARSHIPS, AND WILKES NEED BASED GRANTS. ALSO INCLUDED IS TUITION REMISSION FOR OTHER LOCAL COLLEGES AND PROGRAMS. 10318493 11945096 STUDENT SERVICES INCLUDES FUNDS EXPENDED FOR ACTIVITIES WITH THE PRIMARY PURPOSE OF CONTRIBUTING TO THE STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTION PROGRAM. WILKES CLASSIFIES THE FOLLOWING OFFICES INTO THIS PROGRAM: OFFICES OF ENROLLMENT SERVICES (ADMISSIONS), REGISTRAR, FINANCIAL AID ADMINISTRATION, CAREER SERVICES, AND HEALTH AND WELLNESS SERVICES. IN ADDITION, EXPENDITURES FOR STUDENT ACTIVITIES, CULTURAL EVENTS, INTRAMURAL AND INTERCOLLEGIATE ATHLETICS, FRESHMAN ORIENTATION, AND STUDENT CLUBS AND ORGANIZATIONS ARE CONSIDERED STUDENT SERVICES FOR FINANCIAL STATEMENT PURPOSES. 10149020 ACADEMIC SUPPORT INCLUDES FUNDS EXPENDED TO PROVIDE SUPPORT SERVICES FOR THE INSTITUTION'S PRIMARY MISSION OF INSTRUCTION, RESEARCH, AND PUBLIC SERVICE. THE ACADEMIC ADMINISTRATION OF THE UNIVERSITY INCLUDING THE ACADEMIC DEANS BUT NOT DEPARTMENT CHAIRS THAT ARE CHARGED TO THEIR PRIMARY FUNCTION CATEGORY ARE FOUND IN THIS PROGRAM. ALL SALARIES, BENEFITS, AND OTHER EXPENSES FOR THE LIBRARY ARE ALSO CONSIDERED ACADEMIC SUPPORT. 914918 RESEARCH INCLUDES ALL EXPENDITURES FOR ACTIVITIES SPECIFICALLY ORGANIZED TO PRODUCE RESEARCH, WHETHER COMMISSIONED BY AN AGENCY EXTERNAL TO THE INSTITUTION OR SEPARATELY BUDGETED WITHIN THE UNIVERSITY. CHARGED TO THIS PROGRAM ARE EXPENDITURES RELATED TO THE INSTITUTE FOR PUBLIC POLICY AND ECONOMIC DEVELOPMENT, A PARTNERSHIP AMONG SEVERAL LOCAL COLLEGES WITH THE FUNCTION OF PRODUCING RESEARCH TO ASSIST COMMUNITY LEADERS IN MAKING INFORMED DECISIONS. IN ADDITION TO THIS, THE EXPENSES OF SEVERAL RESEARCH GRANTS ARE RECORDED TO THE RESEARCH CLASSIFICATION. 727421 PUBLIC SERVICE INCLUDES FUNDS EXPENDED FOR ACTIVITIES ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE UNIVERSITY. THE EXPENSES OF THE SMALL BUSINESS DEVELOPMENT CENTER, RADIO AND TELEVISION STUDIOS AND SEVERAL COMMUNITY LECTURE SERIES ARE AMONG THOSE POSTED TO THIS PROGRAM. 11791359 90130318 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 6629 0 1 1841 1 0 0 0 0 0 1 1 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X JANET KOBYLSKI CONTROLLER 5704084501 84 WEST SOUTH STREET WILKES BARRE PA 18766 PATRICK LEAHY PRESIDENT 75.00 X 347066 0 42444 MICHAEL SPEZIALE VP OF STRATEGIC INITIATIVE 50.00 X 170652 0 13992 LOREN PRESCOTT VP, FINANCE/GENERAL COUNSEL 60.00 X 235267 0 23942 TERESE WIGNOT PROVOST (INTERIM) 60.00 X 155471 0 21019 PAUL ADAMS VP, STUDENT AFFAIRS 50.00 X 145200 0 24312 MICHAEL WOOD VP, ADVANCEMENT 50.00 X 164768 0 35543 MELANIE WADE VP, ENROLLMENT SERVICES 50.00 X 144767 0 11956 ANNE SKLEDER SENIOR VP/PROVOST 60.00 X 125650 0 30446 DANIEL CARDELL TRUSTEE, CHAIR 11.00 X X 0 0 0 CHRIS HACKETT TRUSTEE, VICE CHAIR 7.00 X X 0 0 0 JENNIE SIKES TRUSTEE, TREASURER/ASST SE 9.00 X X 0 0 0 DAN KLEM TRUSTEE, SECRETARY/ASST TR 10.00 X X 0 0 0 LAURA CARDINALE TRUSTEE 7.00 X 0 0 0 TERRY CASEY TRUSTEE 2.00 X 0 0 0 CHARLES F COHEN TRUSTEE 7.00 X 0 0 0 JEFF DAVIDOWITZ TRUSTEE 7.00 X 0 0 0 JASON GRIGGS TRUSTEE 8.00 X 0 0 0 JOHN KERR TRUSTEE 3.00 X 0 0 0 MILAN S KIRBY TRUSTEE 3.00 X 0 0 0 GEORGE MATZ TRUSTEE 3.00 X 0 0 0 WILLIAM R MILLER TRUSTEE 4.00 X 0 0 0 JOHN MILLER TRUSTEE 6.00 X 0 0 0 GEORGE PAWLUSH TRUSTEE 4.00 X 0 0 0 HEDY RITTENMEYER TRUSTEE 7.00 X 0 0 0 STEVEN ROTH TRUSTEE 3.00 X 0 0 0 ELIZABETH SLAUGHTER TRUSTEE 3.00 X 0 0 0 MATTHEW SORDONI TRUSTEE 4.00 X 0 0 0 THOMAS RALSTON TRUSTEE 3.00 X 0 0 0 RANDY MARK TRUSTEE 3.00 X 0 0 0 MICHAEL BREWSTER TRUSTEE 2.00 X 0 0 0 CINDY CHARNETSKI TRUSTEE 2.00 X 0 0 0 RANDA FAHMY HUDOME TRUSTEE 3.00 X 0 0 0 CAROL KEUP TRUSTEE 2.00 X 0 0 0 DOROTHY DARLING MANGLESDORF TRUSTEE 2.00 X 0 0 0 MELANIE MASLOW TRUSTEE 2.00 X 0 0 0 DOUG STRAUB TRUSTEE 3.00 X 0 0 0 DAVID HADLEY TRUSTEE 1.00 X 0 0 0 WILLIAM HANBURY TRUSTEE 1.00 X 0 0 0 BERNARD GRAHAM DEAN PHARMACY SCHOOL 50.00 X 198196 0 24770 JEFFREY ALVES DEAN BUSINESS SCHOOL 50.00 X 163351 0 22177 JOHN STACHACZ DEAN LIBRARY AND IT 50.00 X 150770 0 21938 TERI OOMS EXEC DIRECTOR JOINT URBAN STUDIES 50.00 X 153033 0 11558 THOMAS BALDINO INTERIM DEAN CAHSS 50.00 X 147575 0 21680 LINDA WINKLER PROFESSOR, ANTHROPOLOGY 50.00 X 148329 0 16220 MARY KROPIEWNICKI ASSOCIATE PROFESSOR/CHAIR 50.00 X 144345 0 13507 DALE BRUNS FORMER KEY EMPLOYEE - PROFESSOR 50.00 X 132608 0 19199 2727048 0 354703 69 1 1 0 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 3547604 ELLUCIAN COMPANY LP 62590 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 COMPUTER MGMT SERVICES 1322735 LEARNING SCIENCES INTERNATIONAL 175 CORNELL ROAD BLAIRSVILLE PA 15717 GRADUATE COURSE PROVIDER 836415 160 OVER 90 1 SOUTH BROAD STREET 10TH FLOOR PHILADELPHIA PA 19107 MARKETING SERVICES 481606 DISCOVERY EDUCATION INC ONE DISCOVERY PLACE SILVER SPRINGS MD 20910 GRADUATE COURSE PROVIDER 473396 12 558155 3105129 2345591 8121 6008875 TUITION AND FEES 900099 96370763 96370763 AUXILIARY ACTIVITIES- SALES AND S 900099 11945096 11945096 108315859 1483577 1483577 117000 117000 51180 40550 10630 10630 10630 4328897 24978 2003126 288217 2325771 -263239 2062532 2062532 73427 558155 216732 -143305 -143305 ENDOWMENT DRAWDOWNS 900099 1636500 1636500 MISCELLANEOUS 900099 167545 167545 TEAM PROGRAM REVENUE 900099 142693 142693 392036 392036 2338774 120193942 108315859 0 5869208 31235249 31235249 2287564 432784 1854780 151807 151807 37449814 29861761 6803482 784571 2077211 1594614 440718 41879 5660563 4631979 974033 54551 2972330 2226590 687699 58041 139936 139936 89150 89150 251154 6809 244345 7418687 5359698 1999769 59220 1202173 213012 977673 11488 3093938 1266135 1729823 97980 1516739 317945 1191794 7000 4102679 3025956 1075733 990 1185800 1089134 54613 42053 238892 200348 35363 3181 3656296 2122013 1534283 5230922 3035882 2195040 406095 406095 ENTERTAINMENT 1091201 880810 51570 158821 PRINTING AND PUBLICATIO 990009 518956 398388 72665 EQUIPMENT MAINTENANCE 766266 175515 557147 33604 BAD DEBTS 589356 611767 -22411 1353016 917266 396809 38941 115156847 90130318 23583955 1442574 X 3602 4102 31997502 32080013 3131365 2221237 1161313 889534 456611 574408 176240524 75547564 99957308 100692960 42653632 42539389 17734380 17499862 3215858 3637114 711631 1042368 201023202 201180987 8306929 8142054 1704428 1927844 76813275 75754187 10241117 9120419 97065749 94944504 X 59837038 62568763 17712276 16805278 26408139 26862442 103957453 106236483 201023202 201180987 X 5037095 -3729202 971137 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1447000 X 0 43729478 425300 1109984 1636500 217995 43410267 40534859 366481 4714391 1675800 210453 43729478 35737685 238664 6193223 1440800 193913 40534859 38292348 229858 -1283157 1317000 184364 35737685 32667073 551885 6619932 1363000 183542 38292348 0.26050 0.44740 0.29210 0 0 5426186 5426186 140044761 53562279 86482482 16844916 12689530 4155386 13924661 9295755 4628906 100692960 BENEFICIAL INTEREST IN TRUSTS (BY OTHERS) 7449723 F ALTERNATIVE INVESTMENTS 6036048 F FUNDS HELD IN TRUST FOR OTHERS 4006512 F REAL ESTATE INVESTMENT TRUST 7579 F 17499862 DEPOSITS HELD IN CUSTODY 111482 LIABILITY UNDER SPLIT INTEREST 370829 INVESTMENTS HELD IN TRUST FOR OTHERS 4006512 ADVANCES FROM FEDERAL GOVERNMENT 3452470 POSTRETIREMENT BENEFITS 1179126 9120419 X 86226964 -3729202 18131 -3711071 89938035 30255907 30255907 120193942 83947934 257282 257282 83690652 31466195 31466195 115156847 PART III, LINE 4: A COLLECTION OF ART WORK IS MAINTAINED BY THE UNIVERSITY PURELY FOR PUBLIC DISPLAY BOTH IN THE ART GALLERY AND ON CAMPUS. THEY ARE NOT HELD FOR SALE. PART V, LINE 4: THE INTENDED USE OF THE UNIVERSITY'S ENDOWMENT FUNDS IS TO FUND SCHOLARSHIPS AS WELL AS DEPARTMENTAL CHAIRS AND TO SUPPORT OPERATING EXPENSES. PART X, LINE 2: THE UNIVERSITY IS INCORPORATED IN THE COMMONWEALTH OF PENNSYLVANIA AS A NONPROFIT ORGANIZATION. THE UNIVERSITY HAS RECEIVED A DETERMINATION FROM THE INTERNAL REVENUE SERVICE THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE UNIVERSITY AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE UNIVERSITY HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UNDER EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE UNIVERSITY, AND HAS CONCLUDED THAT AS OF MAY 31, 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIOD IN PROGRESS. THE UNIVERSITY'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR THE YEARS ENDED MAY 31,2012 THROUGH MAY 31,2015 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 18,131. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AID 30,282,243. INVESTMENT EXPENSE 230,946. SPECIAL EVENTS -216,732. RENTAL EXPENSES -40,550. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 216,732. RENTAL EXPENSES 40,550. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AID 30,282,243. STUDENT LOANS DISBURSED 953,006. INVESTMENT EXPENSE 230,946. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL PUBLICATIONS IN THE AREAS OF RECRUITMENT PUBLICIZE THE UNIVERSITY'S NON-DISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVED ASSISTANCE THROUGH THE FOLLOWING: LOAN PROGRAMS (PERKINS AND NURSING), SEOG, COLLEGE WORK STUDY, IAG (INSTITUTIONAL ASSISTANCE GRANT), PELL GRANT, MISCELLANEOUS NEED-BASED PHEAA GRANTS, NATIONAL GUARD AWARDS, AND PRIVATE SCHOLARSHIPS (ROTC PROGRAM). 1 EUROPE 0 0 PROGRAM SERVICES PROFESSIONAL DEVELOPMENT, GRANT RESEARCH 6877 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT, GRANT RESEARCH 47735 SUB SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 2689 EUROPE 0 0 INVESTMENTS - ALTERNATIVE INVESTMENTS 438749 CENTRAL AMERICA/ CARIBBEAN 0 0 INVESTMENTS - ALTERNATIVE INVESTMENTS 2998737 NORTH AMERICA 0 0 INVESTMENTS - ALTERNATIVE INVESTMENTS 58188 SUB-SAHARAN AFRICA 0 0 INVESTMENTS - ALTERNATIVE INVESTMENTS 31195 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS - ALTERNATIVE INVESTMENTS 26558 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 100 SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATION 378 SOUTH ASIA 0 1 PROGRAM SERVICES EDUCATION 1250 EAST ASIA AND THE PACIFIC 0 1 PROGRAM SERVICES RECRUITMENT 1875 MIDDLE EAST AND NORTH AFRICA 0 1 PROGRAM SERVICES RECRUITMENT 12500 NORTH AMERICA 0 0 PROGRAM SERVICES PROFESSIONAL DEVELOPMENT 3256 0 0 0 3 0 3 3610728 19359 3630087 0 0 0 0 0 0 FOUNDER'S GALA 582970 535395 47575 2703 101112 23253 73572 CHWALEK GOLF TOURNAMENT 20000 11325 8675 1875 6441 637 28612 11435 17177 1786 5353 631582 558155 73427 4578 109339 23253 79562 216732 -143305 1 NAMED SCHOLARSHIPS 307 1375595 NEED BASED GRANTS AND SCHOLARSHIPS 1397 8845261 OTHER SCHOLARSHIPS 2011 18639418 REMISSIONS - UPWARD BOUND ETC 373 1421969 STUDENT LOANS DISBURSED 478 953006 PART I, LINE 2: WILKES UNIVERSITY MAINTAINS A COMPREHENSIVE PROGRAM OF FINANCIAL AID TO ASSIST STUDENTS IN THE FINANCING OF THEIR EDUCATIONAL PROGRAMS. THE UNIVERSITY AWARDS BOTH MERIT SCHOLARSHIPS AND NEED-BASED GRANTS TO UNDERGRADUATE AND GRADUATE STUDENTS. UNDERGRADUATE MERIT AWARDS ARE BASED ON HIGH SCHOOL ACHIEVEMENT INCLUDING SAT SCORES AND HIGH SCHOOL CLASS RANK. STUDENTS MUST COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID TO HAVE THEIR ELIGIBILITY FOR NEED-BASED AID DETERMINED. GRADUATE SCHOLARSHIPS ARE AWARDED TO STUDENTS ENROLLED IN THE DISTANT EDUCATION PROGRAM. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 PATRICK LEAHY PRESIDENT 344606 0 0 0 2460 0 24000 0 18444 0 389510 0 0 0 MICHAEL SPEZIALE VP OF STRATEGIC INITIATIVE 167303 0 0 0 3349 0 13435 0 557 0 184644 0 0 0 LOREN PRESCOTT VP, FINANCE/GENERAL COUNSEL 205777 0 25000 0 4490 0 16747 0 7195 0 259209 0 0 0 TERESE WIGNOT PROVOST (INTERIM) 155293 0 0 0 178 0 12799 0 8220 0 176490 0 0 0 PAUL ADAMS VP, STUDENT AFFAIRS 143860 0 0 0 1340 0 12160 0 12152 0 169512 0 0 0 MICHAEL WOOD VP, ADVANCEMENT 160677 0 0 0 4091 0 13442 0 22101 0 200311 0 0 0 MELANIE WADE VP, ENROLLMENT SERVICES 143501 0 0 0 1266 0 11509 0 447 0 156723 0 0 0 ANNE SKLEDER SENIOR VP/PROVOST 125466 0 0 0 184 0 0 0 30446 0 156096 0 0 0 BERNARD GRAHAM DEAN PHARMACY SCHOOL 182402 0 0 0 15794 0 15159 0 9611 0 222966 0 0 0 JEFFREY ALVES DEAN BUSINESS SCHOOL 148231 0 0 0 15120 0 12596 0 9581 0 185528 0 0 0 JOHN STACHACZ DEAN LIBRARY AND IT 148524 0 0 0 2246 0 12386 0 9552 0 172708 0 0 0 TERI OOMS EXEC DIRECTOR JOINT URBAN STUDIES 135267 0 15000 0 2766 0 11078 0 480 0 164591 0 0 0 THOMAS BALDINO INTERIM DEAN CAHSS 146832 0 0 0 743 0 12123 0 9557 0 169255 0 0 0 LINDA WINKLER PROFESSOR, ANTHROPOLOGY 134968 0 0 0 13361 0 11002 0 5218 0 164549 0 0 0 MARY KROPIEWNICKI ASSOCIATE PROFESSOR/CHAIR 144293 0 0 0 52 0 5355 0 8152 0 157852 0 0 0 DALE BRUNS FORMER KEY EMPLOYEE - PROFESSOR 116713 0 0 0 15895 0 10468 0 8731 0 151807 0 0 0 PART I, LINE 1A HEALTH OR SOCIAL CLUB DUES - ALL UNIVERSITY EMPLOYEES WERE OFFERED A MEMBERSHIP AT THE LOCAL YMCA. IN ADDITION, CERTAIN MEMBERS OF THE PRESIDENT'S CABINET BELONGED TO A LOCAL SOCIAL CLUB WHICH REQUIRED MONTHLY DUES. THE SOCIAL CLUB MEMBERSHIPS ARE FOR BUSINESS PURPOSES ONLY. THE HEALTH OR SOCIAL CLUB DUES WERE NOT TREATED AS TAXABLE COMPENSATION. RESIDENCE FOR PERSONAL USE - THE UNIVERSITY'S PROVOST, ANNE SKLEDER, IS PROVIDED HOUSING IN A UNIVERSITY OWNED HOUSE. THIS IS A NONTAXABLE BENEFIT. HOUSING ALLOWANCE - JEFFREY ALVES IS PROVIDED A HOUSING ALLOWANCE PURSUANT TO HIS EMPLOYMENT AS THE DEAN OF THE BUSINESS SCHOOL. THE HOUSING ALLOWANCE IS TREATED AS TAXABLE COMPENSATION TO HIM, AND IS PROVIDED ON HIS FORM W-2. FOR THE CALENDAR YEAR 2014, THE HOUSING ALLOWANCE TOTAL WAS $14,400. A CITY OF WILKES BARRE FINANCE AUTHORITY SERIES 2007 968254AC6 2007-05-30 54134142 REFUNDING BONDS AND PREPAYING 0 0 0 B NORTHEASTERN PA HOSPITAL & EDUCATION AUTHOR SERIES A 237394107 664556BD8 2012-05-09 16956391 FINANCE NEW FACILITY 0 0 0 C NORTHEASTERN PA HOSPITAL & EDUCATION AUTHOR SERIES B 237394107 2012-04-13 15000000 FINANCE NEW FACILITY 0 0 0 A 54134142 2127750 51254416 738963 13013 2007 1 1 1 1 B 16956391 1657500 284230 15014661 2013 0 0 1 1 C 6860869 15000000 139234 7999897 2013 0 0 1 1 A 1 1 1 1 0 0.00000 0.01370 0.01370 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, PART III, LINE 1 WILKES UNIVERSITY IS THE SOLE MEMBER OF WU REAL ESTATE, LLC, WHICH IS A DISREGARDED ENTITY OF THE UNIVERSITY. WU REAL ESTATE LLC'S OWNERSHIP OF BOND FINANCED FACILITIES IS THEREFORE TREATED AS OWNERSHIP BY A 501(C)(3) ENTITY. SCHEDULE K, PART III, LINE 5 THE PERCENTAGE SHOWN ON PART III, LINE 5 REPRESENTS RENT RECEIVED FROM ELDERLY HOLDOVER TENANTS OF A BUILDING PURCHASED BY THE UNIVERSITY TO PROVIDE STUDENT HOUSING. THESE NON-STUDENT TENANTS ARE PERMITTED TO STAY IN THE BUILDING UNTIL THE TENANT DECIDES TO TERMINATE THE LEASE. THE PERCENTAGE IS CALCULATED ON THE BASIS OF ONE BUILDING WHICH WAS FINANCED BY APPROXIMATELY 19.63% OF THE PROCEEDS OF THE BOND ISSUE, AND OVER THE TERMS OF THE BONDS. AS THESE NON-STUDENT LEASES ARE TERMINATED, THE UNIVERSITY EXPECTS THAT THE UNRELATED USE WILL DROP TO 0%. SCHEDULE K, PART III, LINE 6 THIS PERCENTAGE REPRESENTS USE OF ONLY ONE BUILDING FINANCED WITH APPROXIMATELY 19.63% OF THE BOND PROCEEDS. THE USE AS MEASURED OVER THE ENTIRE BOND ISSUE IS LESS THAN 1% OF THE BOND PROCEEDS FOR THE ANNUAL PERIOD COVERED BY SCHEDULE K. SCHEDULE K, PART IV, LINE 2C WITH RESPECT TO ISSUE A, THE REBATE COMPUTATION WAS PERFORMED ON 3/1/15. SCHEDULE K, PART IV, LINE 2C WITH RESPECT TO ISSUE B, THE REBATE COMPUTATION WAS PERFORMED ON 5/8/15. SCHEDULE K, PART IV, LINE 2C WITH RESPECT TO ISSUE C, THE REBATE COMPUTATION WAS PERFORMED ON 4/12/15. SCHEDULE K. PART IV, LINE 7 ALTHOUGH WILKES HAS ADOPTED MANAGEMENT PRACTICES AND PROCEDURES TO ENSURE POST ISSUANCE COMPLIANCE OF ITS TAX EXEMPT BOND LIABILITIES, THESE PRACTICES AND PROCEDURES WERE IN A DRAFT FORM AT THE END OF WILKES' TAX YEAR. LOREN PRESCOTT VP FINANCE, GENERAL COUNSEL 190000 THE UNIVERSITY PURCHASED A BUILDING LOCATED AT 188 SOUTH FRANKLIN STREET IN WILKES BARRE FROM LOREN PRESCOTT ON APRIL 16, 2015. 0 FORM 990, PART III, LINE 2 THE UNIVERSITY HAS BEGUN A DISTANCE EDUCATION PROGRAM OFFERING GRADUATE NURSING PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11 WILKES UNIVERSITY HAS ESTABLISHED A REVIEW PROCESS FOR THE FORM 990. ONCE THE DRAFT FORM 990 RETURN IS RECEIVED, IT IS REVIEWED BY THE CONTROLLER'S OFFICE. AFTER THIS REVIEW, IT IS SENT TO THE VP OF FINANCE AND GENERAL COUNSEL. A FINAL REVIEW IS THEN DONE BY THE BOARD OF TRUSTEES BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C WILKES UNIVERSITY'S CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND ANY INDIVIDUAL THAT HAS BUDGETARY/FINANCIAL RESPONSIBILITIES WITHIN THE UNIVERSITY. ANY CONFLICTS OF INTEREST CONCERNING BOARD MEMBERS ARE FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. ALL CONFLICT OF INTEREST STATEMENTS ARE REVIEWED UPON SUBMISSION AND FORWARDED TO THE AUDIT COMMITTEE AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCES COMMITTEE OF THE BOARD OF TRUSTEES PERFORMS AN ANNUAL REVIEW OF THE COMPENSATION PROVIDED TO THE UNIVERSITY'S PRESIDENT AND VICE PRESIDENTS. BENCHMARK DATA, INCLUDING DATA FROM COLLEGES AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA) IS USED FOR COMPARITIVE PURPOSES FOR EXECUTIVE POSITIONS. THE LAST BENCHMARKING COMPARISON WAS COMPLETED IN AUGUST OF 2014. THE UNIVERSITY KEEPS WRITTEN DOCUMENTATION OF THE HUMAN RESOURCES COMMITTEE'S DELIBERATION AND DECISION MAKING PROCESS. FORM 990, PART VI, SECTION C, LINE 19 WILKES UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990: PART X BALANCE SHEET IN APRIL 2015, FASB ISSUED ASU 2015-03, INTEREST - IMPUTATION OF INTEREST (TOPIC 835-30): SIMPLIFYING THE PRESENTATION OF DEBT ISSUANCE COSTS. THE ASU REQUIRES THAT DEBT ISSUANCE COSTS RELATED TO A RECOGNIZED DEBT LIABILITY BE PRESENTED AS A DIRECT DEDUCTION FROM THE CARRYING AMOUNT OF THAT DEBT LIABILITY, CONSISTENT WITH DEBT DISCOUNTS. THE RECOGNITION AND MEASUREMENT GUIDANCE FOR DEBT ISSUANCE COSTS ARE NOT AFFECTED. WHILE EFFECTIVE FOR FISCAL YEARS BEGINNING AFTER DECEMBER 15, 2015, EARLY ADOPTION IS PERMITTED. THE UNIVERSITY HAS ELECTED TO EARLY ADOPT THIS GUIDANCE IN 2015 BY RETROACTIVELY REPORTING DEFERRED BOND ISSUANCE COSTS OF $875,856 (PREVIOUSLY REPORTED IN 2014 IN PREPAID EXPENSES AND OTHER ASSETS) AS A DEDUCTION FROM BONDS PAYABLE (LONG-TERM DEBT) AT MAY 31, 2014 IN THE STATEMENT OF FINANCIAL POSITION. THE ADOPTION HAD NO IMPACT ON THE UNIVERSITY'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. IN MAY 2015, FASB ISSUED ASU 2015-07, FAIR VALUE MEASUREMENT (TOPIC 820): DISCLOSURES FOR INVESTMENTS IN CERTAIN ENTITIES TO CALCULATE NET ASSET VALUE PER SHARE (OR ITS EQUIVALENT). ASU 2015-07 REMOVES THE REQUIREMENT TO CATEGORIZE WITHIN THE FAIR VALUE HIERARCHY ALL INVESTMENTS FOR WHICH FAIR VALUE IS MEASURED USING THE NET ASSET VALUE ("NAV") PER SHARE PRACTICAL EXPEDIENT. IT ALSO REMOVES THE REQUIREMENT TO MAKE CERTAIN DISCLOSURES FOR ALL INVESTMENTS THAT ARE ELIGIBLE TO BE MEASURED AT FAIR VALUE USING THE NET ASSET VALUE PER SHARE PRACTICAL EXPEDIENT. WHILE EFFECTIVE FOR FISCAL YEARS BEGINNING AFTER DECEMBER 15, 2015, EARLY ADOPTION IS PERMITTED. THE UNIVERSITY ELECTED TO EARLY ADOPT THIS GUIDANCE IN 2015. THE ADOPTION HAD NO IMPACT ON THE UNIVERSITY'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. BASED ON THESE ADJUSTMENTS, THE BEGINNING YEAR BALANCE SHEET AMOUNTS FOR OTHER ASSETS AND LONG TERM DEBT HAVE BEEN ADJUSTED. FORM 990, PART XI, LINE 9: STUDENT LOANS ADVANCED 953,006. CHANGE IN LIABILITY ON SPLIT INTEREST AGREEMENTS 18,131. 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