2015-04-22T15:52:45-05:00 2014-06-30 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2013-07-01 210634981 GEORGIAN COURT UNIVERSITY % John Sommer VP Finance & Ad GEOR 7329872200 900 LAKEWOOD AVENUE Suite LAKEWOOD NJ 08701 JOHN SOMMER VP FINANCE & ADM 7329872218 2015-04-22 true JOCELYNE C MILLER P00634378 7329872218 2015-04-21 2013 2016-02-25 16:41:14Z ROSEMARY JEFFRIES RSM 900 LAKEWOOD AVENUE LAKEWOOD NJ 08701 76947562 false X WWW.GEORGIAN.EDU X 1908 NJ SEE SCHEDULE O. 33 33 934 314 435146 2108617 2633840 48852858 51134330 1785190 3125155 1556667 996205 54303332 57889530 11949310 13908284 0 0 23177531 23571406 0 20538 1809154 19181167 20300401 54308008 57800629 -4676 88901 123459628 125389354 35350897 33547616 88108731 91841738 X Georgian Court University provides a comprehensive liberal arts education and is open to students of all faiths. Cultivated by a highly esteemed university environment and committed faculty, GCU offers an innovative liberal arts curriculum that promotes scholarship, service, leadership, and personal development. Driven by the Sisters of Mercy's core values of respect, integrity, service, justice, and compassion, Georgian Court has a commitment to creating world citizens and helping students use their unique strengths to find purpose that place where talent and passion, purpose and intellect, intersect. false false 32471661 13908284 51426151 Georgian Court University serves about 2,300 students in 30 undergraduate and 10 distinctive graduate programs. Students are enrolled through the GCU School of Business, School of Education and the School of Arts and Sciences, as well as the GCU-Meridian Health School of Nursing. The university also offers online degrees and specialty certificates in such fields as holistic health, homeland security, and graduate education. Georgian Court, located in historic Lakewood, N.J., is dedicated to the personal and professional success of its students. The university has historic roots as a womens college, and served men in evening and graduate courses---usually part-time---until September 2012. Beginning that year, men were eligible to enroll fulltime in any course as the university prepared to become fully coeducational by Fall 2013. Since then, GCU has successfully transitioned to a fully coeducational model with men participating in sports, student government, campus leadership, and residence life. GCU provides all of its students values-based liberal arts education that enhances their marketability across various disciplines and emphasizes purposeful leadership that enables alumni to excel in their careers. GCU graduates contribute to the greater good locally, nationally, and throughout the world. GCUs consistent 13:1 student-faculty ratio facilitates unique learning relationships and fosters valuable research opportunities between professors and their students. Small classes with approachable faculty are especially helpful for adult learners (28% percent of GCU students are non-traditional learners older than 22), many of whom are juggling university studies with busy schedules, job and family obligations. In recent years, GCU has added new areas of study that reflect employment trends. In May 2014 the university graduated its third class of nurses to earn their B.S.N. degrees through the GCU-Meridian Health School of Nursing. The university also saw accolades in education (reaccreditation by the Council for the Accreditation of Educator Preparation-CAEP) business (the Accreditation Council for Business Schools and Programs), and in international learning efforts (Collaborative Online International Learning-COIL) with universities outside of the U.S. Overall, GCU gives students an exceptional learning environment where they gain valuable experience in their disciplines before graduation. Students often work alongside faculty mentors in social work, biochemistry, business, autism studies, early childhood education, learning disabilities consulting, and school psychology. Those studying criminal justice, dance, exercise science, and other fields are equally as involved. Georgian Court University prepares students for life beyond the campus gates. By senior year, more than 75 percent of GCU students say Georgian Court challenges them to do their best work, and among freshmen, upward of 59 percent of students report being involved in high-impact practices such as service learning or Service, one of GCUs Mercy core values, is embedded in experiences throughout their college years, as evidenced by the 6,000+ volunteer hours GCU students invested in neighboring communities during the 2013-14 academic year. Additional partnerships and programs at locations throughout the region extend the reach and mission of Georgian Court University. For example, in February 2014, GCU announced its new Guaranteed Tuition Initiative with neighboring Brookdale Community College, GCUs largest two-year college feeder. The program offers high-achieving community college graduates additional incentives to complete their bachelors degree at Georgian Court. In 2014, GCU launched International Collaboration Center, a high-tech classroom created to connect GCU students and faculty with their peers in other countries through research, course presentations, collaborative projects and virtual face-to-face meetings. The ICC is part of GCUs larger Global Transformation Initiative. Internationally, GCU partners with John Cabot University in Rome, the University of Sterling in Scotland, St. Augustine University in Tanzania, Universidad Catolica de El Salvador, and other institutions. Last year, 41 GCU students took advantage of education abroad opportunities in Europe, Africa and South America; many of their experiences were funded by global education scholarships, making education abroad opportunities more accessible for all students. Professional conferences sponsored on the Georgian Court campus by university faculty and their departments also contribute to GCUs growing reputation as a leader in such fields as applied behavior analysis, clinical mental health counseling, and holistic health. Beyond undergraduate and graduate education, Georgian Court extends educational opportunities to senior adults through the McAuley Institute for Lifelong Learning (MILL). The program, launched in 2009, has grown from two pilot courses to more than 50 classes that cover subjects ranging from Twitter 101, spirituality and creative writing, to the history of protest music in the United States and healthy lifestyle cooking and eating. Since its founding, MILL has registered more than 500 seniors, ages 50 and older, for non-credit, college-level courses taught by faculty. About 99 percent of GCU's full-time first-year students receive aid with an average financial aid package of $26,026. About 45 percent of all full-time freshmen receive Pell grants (federal aid). In addition, 45 percent of entering freshmen were first-generation college students. For prospective and current Georgian Court students, paying for college is the single biggest roadblock to pursuing a degree. However, with adequate financial support, Georgian Court students succeed in the classroom. Georgian Court is not a typical institution because its high volume of commuter, graduate students, non-traditional students and Communiversity students (who take courses at an off-campus site) all contribute to school pride in ways that a university with a larger body of resident students is more apt to have. 5933161 STUDENT-ATHLETES AT GCU - As a member of the Central Athletic Collegiate Conference, Georgian Court University fields 186 athletes in NCAA Division II sports, including basketball, cross country, lacrosse, soccer, softball, volleyball, tennis, and both indoor and outdoor track & field. The GCU athletics program is distinguished by its commitment to building well-rounded athletes who achieve on the field and in the classroom. In keeping with their peers nationally, GCU student-athletes cultivate leadership skills in their individual sports and in their classroom and community involvement. The teams are very active in the community, as well, and have raised thousands of dollars for the Susan B. Komen Walk for the Cure, cancer research, Make-a-Wish Foundation, and National Girls and Women in Sports Day. 2682404 OTHER EXPENDITURES TO SUPPORT THE OPERATION OF OFFICES DEDICATED TO STUDENT SERVICE ACTIVITIES. 41087226 true true false true false false true false false true true true false false true true true false true false true false true true true false false false true true true false false false false false false false false true false false false false false false true true true false false true 116 0 true 934 true true true false false false false true true false false false false X 33 33 false false false false false true true true true false false true true true true true true true true false AK KY MD MA MI NH NJ NY OR SC TN X John Sommer VP Finance Ad 7329872416 900 Lakewood Avenue Lakewood NJ 08701 X Raymond F Shea Jr Esq Board Chair 1.0 X Lesa Lardieri-Wright Board Vice Chair 1.0 X Tessa M Breslin Individual Trustee 1.0 X Francis G Coleman Individual Trustee 1.0 X Frank DeMiro CPA Individual Trustee 1.0 X Joseph G DiCorcia Esq Individual Trustee 1.0 X Elisabeth Fontenelli Individual Trustee 1.0 X Fiah Gussin Individual Trustee 1.0 X Patricia Smith Heanue Individual Trustee 1.0 X Reverend Paul A Holmes Individual Trustee 1.0 X James J Knipper Individual Trustee 1.0 X Patricia E Koch Esq Trustee Emeritus 1.0 X Monsignor Casimir H Ladzinski Individual Trustee 1.0 X Eugenia E Lawson Individual Trustee 1.0 X John K Lloyd Individual Trustee 1.0 X Amelia A McTamaney Individual Trustee 1.0 X Mary Meehan PhD Individual Trustee 1.0 X Robert E Mulcahy III Individual Trustee 1.0 X Deirdre Mullan RSM PhD Individual Trustee 1.0 X Elizabeth Mulvihill Individual Trustee 1.0 X Edward Nadworny Individual Trustee 1.0 X Linda M Orlando Individual Trustee 1.0 X Mark N Ricca Individual Trustee 1.0 X Carol Rittner RSM DEd Individual Trustee 1.0 X John W Seazholtz Individual Trustee 1.0 X Judge Eugene D Serpentelli Individual Trustee 1.0 X Senator Robert W Singer Individual Trustee 1.0 X Peter R Strohm Esq Individual Trustee 1.0 X Thomas J Sykes AIA PP Individual Trustee 1.0 X Patricia Talone RSM PhD Individual Trustee 1.0 X Regina Ward RSM Individual Trustee 1.0 X M Deborah Hanley Williams Individual Trustee 1.0 X Sister Rosemary Jeffries President 35.0 X X 111758 Evelyn Saul Quinn Provost 35.0 X 160440 20321 Robert P Kenny VP Finance & Administration 35.0 X 149340 26695 John McAuliffe VP for Enrollment 35.0 X 121140 25057 Lisa Kuhnle-Biagas Special Asst. to the President 35.0 X 120810 7073 Mellissia Zanjani Vp for Institutional Advanceme 35.0 X 97795 0 19275 DeCapua Lynn Dean School of Education 35.0 X 120259 13335 Rita Kipp Dean School Of Arts & Science 35.0 X 117400 13270 Carroll James Professor School of Business 35.0 X 113719 5599 Mary Lee Batesko Professor School of Education 35.0 X 110141 12634 Maureen Ryan-Hoffman Controller 35.0 X 100859 23809 Joseph F Gower Former Officer/Professor 35.0 X 104158 16386 1316061 0 295212 20 true true false ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 MGMT FEE-IT SRVCS 1122535 COGNITIVE MARKETING INC 46 PRINCE STREET ROCHESTER NY 14607 ADM CONS/REBRANDING 607669 MP CONSULTING SERVICES LLC 366 DERRINGER DRIVE HOWELL NJ 07731 Consulting 407715 RUFFALO CODY 46 PRINCE STREET ROCHESTER NY 14607 ADMISSIONS CONSULT 236410 FHEG 3146 SOLUTIONS CENTER CHICAGO IL 606773001 Bookstore 207711 8 122286 26305 662282 1822967 11403 2633840 TUITION AND FEES 900099 47014541 47014541 RESIDENCE HALLS AND DINING SERVICES 900099 4050278 4050278 BOOKSTORE COMMISSION 900099 69511 69511 51134330 1950424 671 1949753 0 0 228944 46162 228944 46162 275106 275106 20066328 110000 18916497 85100 1149831 24900 1174731 1174731 60581 122286 51585 8996 8996 9700 4850 4850 4850 0 OTHER STUDENT ACTIVITIES/MISCELLANEOUS 900099 291821 291821 Insurance Reimbursement - 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The total fees pursuant to this contract for the year ended June 30, 2014 were $41,076. The firm expended 50% of effort on lobbying and 50% on grant planning assistance. In addition, the university secured the services of Komjathy Stewart ($6,500) for state lobbying activities. Additionally, the University is a member in the following associations: - Association of Independent Colleges and Universities in New Jersey - The Council of Independent Colleges - NACUBO - EACUBO A percentage of the University's membership dues are deemed to be expended for lobbying activities. For the year ended June 30, 2014, the lobbying amount was $1,899. University personnel and students, during the course of various activities throughout the year, meet with legislators to discuss education related topics. The amount of time spent is not material. 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CAPITAL IMPROVEMENTS TO THE PROPERTY (I.E., ROOF RESTORATION) ARE CAPITALIZED AND DEPRECIATED. ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 THE UNIVERSITY HAS ADOPTED AN INVESTMENT POLICY THAT IS INTENDED TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS FROM ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE UNIVERSITY MUST HOLD IN PERPETUITY AS WELL AS BOARD-DESIGNATED FUNDS. 1. DONOR-RESTRICTED ENDOWMENT FUNDS ARE ESTABLISHED BY DONOR-RESTRICTED GIFTS AND RECORDED AS PERMANENTLY RESTRICTED WITHIN THE UNIVERSITY FINANCIAL STATEMENTS. THE AMOUNT OF EACH INDIVIDUAL FUND IS COMPRISED OF THE ORIGINAL GIFT, SUBSEQUENT GIFTS IF THEY WERE TO BE ADDED TO THE PERMANENT ENDOWMENT AND ACCUMULATIONS IF DIRECTED BY THE DONOR'S GIFT DOCUMENTS. THESE FUNDS MUST BE RETAINED IN ACCORDANCE WITH THE EXPLICIT DONOR STIPULATIONS. 2. EARNINGS ON THESE ENDOWED FUNDS ARE REGARDED AS NET APPRECIATION AND CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS. THESE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE CONSISTENT WITH THE DONOR GUIDELINES. DONOR FUNDED SCHOLARSHIPS ARE AWARDED ANNUALLY, IN ACCORDANCE WITH DONOR STIPULATED GUIDELINES AND ARE A COMPONENT OF THE UNIVERSITY'S FINANCIAL AID BUDGET. 3. BOARD DESIGNATED FUNDS, QUASI-ENDOWMENT, FUNCTIONING AS ENDOWMENTS ARE MADE UP OF A DEBT FUND, INTENDED TO OFFSET FUTURE DEBT BORROWINGS; A PLANT FUND, INTENDED TO SUPPLEMENT OPERATIONAL EXPENSES RELATED TO FACILITIES' NEEDS SUCH AS DEFERRED MAINTENANCE OR CAPITAL ITEMS; AND A SPECIAL PROJECTS FUND WITH THE ABILITY TO REACT TO THE CHANGING NEEDS AND DEMANDS OF THE HIGHER EDUCATION ENVIRONMENT. INCOME TAXES FORM 990, SCHEDULE D, PART X, LINE 2 THE UNIVERSITY IS CLASSIFIED AS A 501(C)(3) ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE NEW JERSEY STATE INCOME TAX LAW. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THERE ARE CERTAIN TRANSACTIONS THAT COULD BE DEEMED UNRELATED BUSINESS INCOME AND WOULD RESULT IN A TAX LIABILITY. MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES USING A THRESHOLD OF MORE LIKELY THAN NOT. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL TAX LIABILITIES THAT NEED TO BE RECORDED AT JUNE 30, 2014 AND 2013. RECONCILIATION OF REVENUE FORM 990, SCHEDULE D, PART XI, LINE 2D SCHOLARSHIP EXPENSE (RECLASS) $(13,907,034) SPLIT INTEREST AGREEMENTS/LIFE INS SURRENDER VALUE 80,757 ------------- $(13,826,277) ------------- RECONCILIATION OF EXPENSES FORM 990, SCHEDULE D, PART XII, LINE 4B SCHOLARSHIP EXPENSE (RECLASS) $13,907,034 true true true true true true true false false false false false false false false true false true NONDISCRIMINATION POLICY Form Sch E Part I Line 3 THE UNIVERSITY'S NOTICE OF NONDISCRIMINATION POLICY IS PRINTED ON ALL BROCHURES, WEB PAGES, AND PUBLICATIONS THAT ADVERTISE GCU PROGRAMS AND ADMISSIONS STANDARDS. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY Form Sch E Part I Line 6a U.S. DEPARTMENT OF EDUCATION: STUDENT FINANCIAL ASSISTANCE CLUSTER - FEDERAL PELL GRANT PROGRAM FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT FEDERAL WORK STUDY PROGRAM FEDERAL DIRECT STUDENT LOANS TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS (TEACH GRANTS) OTHER U.S. DEPARTMENT OF EDUCATION AID - TRIO STUDENT SUPPORT SERVICES NJ SEA GRANT-RAIN GARDEN NEW JERSEY DEPARTMENT OF EDUCATION: STUDENT FINANCIAL AID CLUSTER - TUITION AID GRANT GEAR UP GRANT NJ STARS PROGRAM GARDEN STATE OTHER NJ DEPARTMENT OF EDUCATION ASSISTANCE - EDUCATION OPPORTUNITY FUND-GRANT EDUCATION OPPORTUNITY FUND-ARTICLE IV TRISTATE & STUDENT LEADERSHIP SPECIAL PROJECT EDUCATION OPPORTUNITY FUND-SUMMER NEW JERSEY DEPARTMENT OF HEALTH AND HUMAN SERVICES: VOCATIONAL REHABILITATION DIRECT SERVICES NEW JERSEY COMMISSION FOR THE BLIND NEW JERSEY DEPARTMENT OF TREASURY AID TO INDEPENDENT COLLEGES & UNIVERSITIES NON-CASH AWARDS: NJEFA-DORMITORY SAFETY TRUST FUND, SERIES 2001A - INTEREST SUBSIDY NJEFA-DORMITORY SAFETY TRUST FUND, SERIES 2003A - INTEREST SUBSIDY NJEFA-DORMITORY EQUIPMENT LEASING FUND, SERIES 2014B - EQUIPMENT LEASING true Sub-Saharan Africa Grantmaking 39726 East Asia and the Pacific Grantmaking 43157 North America Grantmaking 43508 126391 126391 Grant Aid Sub-Saharan Africa 1 39726 credit acct Grant Aid East Asia and the Pacific 1 43157 credit acct Grant Aid North America 1 43508 credit acct true false true true true false SCHEDULE F, PART I, LINE 2 THE UNIVERSITY GRANTS LISTED ON SCHEDULE F REPRESENT INSTITUTIONAL AID OFFERED TO STUDENTS WHO MATRICULATE AT THE UNIVERSITY. THE AID PROVIDED TO THE STUDENTS IS APPLIED BY THE UNIVERSITY DIRECTLY TO THE STUDENTS' ACCOUNT. AS SUCH, NO MONITORING OF THE GRANT FUNDS ARE REQUIRED BECAUSE THE STUDENT MAY ONLY USE THE SCHOLARSHIP FUNDS TO DEFRAY THE COST OF TUITION. X X X X X X X true MWW GROUP LLC ONE MEADOWLANDS PLAZA EAST RUTHERFORD NJ 07073 GRANT ASSISTANCE false 0 20538 -20538 0 20538 -20538 AL AK AR CA CO CT DC FL GA HI KS KY ME MD MA MI MN MS MO NH NJ NM NY ND OH OR PA RI SC TN UT VA WA WV WI Golf 13/14 182867 122286 60581 51585 0 182867 122286 60581 51585 51585 8996 true INSTITUTIONAL GRANT AID 2117 13780643 MONITORING OF FUNDS Part I Line 2 THE UNIVERSITY GRANTS LISTED ON SCHEDULE I REPRESENT SCHOLARSHIPS OFFERED TO STUDENTS WHO MATRICULATE AT THE UNIVERSITY. AS SUCH, NO MONITORING OF THE GRANT FUNDS ARE REQUIRED BECAUSE THE STUDENT MAY ONLY USE THE SCHOLARSHIP FUNDS TO DEFRAY THE COST OF TUITION. X X false true X X X false false false false false false false false false Evelyn Saul Quinn Provost 160440 8331 11990 180761 Robert P Kenny VP Finance & Administration 149340 7966 18729 176035 Joseph F Gower Former Officer/Professor 104158 4818 11568 120544 COMPENSATION Form 990, Sch J, Part I Line 1a HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES: THE PRESIDENT IS PROVIDED USE OF A UNIVERSITY RESIDENCE BUILDING. THE COSTS ARE INCURRED BY THE UNIVERSITY AND CONSIDERED PART OF THE COSTS CUSTOMARY WITH SAID POSITION IN ORDER TO CARRY OUT VARIOUS JOB FUNCTIONS. RELATED PERSONAL SERVICES SUCH AS MAINTENANCE AND HOUSEKEEPING ON THE ENTIRE FACILITY ARE PERFORMED BY THE UNIVERSITY. A NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY 2007 221829511 646065KQ4 2007-07-19 27196077 Advance Refunding & Constructions false false false B NEW JERSEY EDUCATIONAL FACILITIES AUTH 2004A2006A 221829511 64605LFQ6 2004-04-14 2702688 Financing Capital Improv (see part false false false C NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY 2007 221829511 2007-09-28 1050000 Purchase Property false false false A 0 0 29252014 1738347 0 0 13468490 443446 0 11457843 0 0 false true true true B 0 0 2702698 0 0 0 39988 0 0 2666270 0 0 false false true true C 0 0 1050000 0 0 0 0 0 1050000 0 0 0 false false true true A false false true true false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false true false false 0 false 0 true true B false true false false 0 false 0 false true C false true false false 0 false 0 false true A true B true C true SCHEDULE K, PART I NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY, PROJECT REVENUE BONDS, 2007 SERIES H, DATE ISSUED 9/28/2007: THESE BONDS WERE ISSUED BY THE NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY PURSUANT TO A NEW JERSEY STATE PROGRAM TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION IN NEW JERSEY. THE BONDS WERE SOLD BASED ON THE CREDIT OF THE STATE OF NEW JERSEY IN THE AGGREGATE PRINCIPAL AMOUNT OF $76,725,000. THIS AMOUNT WAS ALLOCATED TO BOTH PUBLIC AND PRIVATE INSTITUTIONS. A FORM 8038 WAS FILED FOR THE PORTION OF THE ISSUE ALLOCATED TO THE PRIVATE INSTITUTIONS AND A SEPARATE FORM 8038-G WAS FILED FOR THE PORTION ALLOCATED TO PUBLIC INSTITUTIONS. GEORGIAN COURT RECEIVED AN AMOUNT OF $2,635,641 WHICH REPRESENTS 23.189% OF THE TOTAL AMOUNT ALLOCATED TO PRIVATE INSTITUTIONS. THE 23.189% WAS APPLIED TO THE AMOUNTS SHOWN ON THE FORM 8038 FOR THE PRIVATE INSTITUTIONS AS ISSUE PRICE, COSTS OF ISSUANCE AND NON-REFUNDING PROCEEDS TO OBTAIN THE PORTION OF THESE AMOUNTS ALLOCABLE TO GEORGIAN COURT. THE OTHER INFORMATION PROVIDED ON SCHEDULE K ABOUT THESE BONDS RELATES TO THE PORTION OF THE ISSUE ALLOCATED TO GEORGIAN COURT AND NOT TO THE AMOUNT OF THE ISSUE IN THE AGGREGATE. DATE OF REBATE COMPUTATION: 9/19/2014 NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY CAPITAL IMPROVEMENT FUND, 2004 A & 2006 A: ON OCTOBER 26, 2006, THE NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY ISSUED ITS CAPITAL IMPROVEMENT FUND BONDS, 2006A TO REFUND PART OF THE CAPITAL IMPROVEMENT FUND 2004A BONDS AND PART OF SEVERAL OTHER ISSUES OF CAPITAL IMPROVEMENT BONDS. DEBT SERVICE ON THE 2004A BONDS WAS ADJUSTED TO TAKE ACCOUNT OF THE DEBT SERVICE SAVINGS THAT RESULTED FROM THE REFUNDING. THE CUSIP NUMBER AND DATE OF ISSUE SHOWN ON PART I OF SCHEDULE K AND OTHER INFORMATION PROVIDED ABOUT THESE BONDS ON SCHEDULE K RELATE TO THE 2004A BONDS. DATE OF REBATE COMPUTATION: 9/19/2014 ERIN QUINN CRITCHETT BONCZEK SEE PART V 54854 EMPLOYEE COMPENSATION false CAITLIN PITTENGER SEE PART V 60439 EMPLOYEE COMPENSATION false SCHEDULE L, PART IV ERIN QUINN CRITCHETT BONCZEK AND CAITLIN PITTENGER ARE EMPLOYED BY THE UNIVERSITY AND FAMILY MEMBERS OF EVELYN SAUL QUINN, PROVOST. ORGANIZATION'S MISSION PART I SUMMARY TO PROVIDE A COMPREHENSIVE LIBERAL ARTS EDUCATION IN THE ROMAN CATHOLIC TRADITION, WITH A SPECIAL CONCERN FOR WOMEN. THE UNIVERSITY IS COMMITTED TO JUSTICE, RESPECT, INTEGRITY, SERVICE AND COMPASSION. FORM 990, PART VI, SECTION A, LINE 7 IN APRIL 2006, THE SISTERS OF MERCY OF THE REGIONAL COMMUNITY OF NEW JERSEY TRANSFERRED THE SPONSORSHIP OF GEORGIAN COURT TO THE CONFERENCE FOR MERCY HIGHER EDUCATION (CMHE). CMHE COORDINATES COLLABORATION AMONG THE 16 MERCY COLLEGES AND UNIVERSITIES THROUGHOUT THE COUNTRY ON BEHALF OF THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS. GEORGIAN COURT UNIVERSITY HAS A TWO-TIERED GOVERNANCE STRUCTURE, THE FIRST TIER CONSISTING OF CMHE (AS THE UNIVERSITY'S SOLE MEMBER) AND THE SECOND BEING THE DULY ELECTED BOARD OF TRUSTEES, WHICH INCLUDES THE PRESIDENT OF THE UNIVERSITY AS AN EX-OFFICIO MEMBER. CONTROL OF THE UNIVERSITY AND ITS AFFAIRS AND PROPERTY IS VESTED IN THE BOARD OF TRUSTEES PURSUANT TO THE UNIVERSITY'S BY-LAWS, SUBJECT TO THE POWERS RESERVED TO CMHE, INCLUDING AMONG OTHERS, THE POWER TO ESTABLISH THE PHILOSOPHY AND MISSION OF THE UNIVERSITY, ELECT OR REMOVE WITH OR WITHOUT CAUSE THE UNIVERSITY PRESIDENT AND MEMBERS OF THE BOARD OF TRUSTEES, APPROVE EXPENDITURES THAT ARE IN EXCESS OF A LEVEL REQUIRING APPROVAL OF THE HOLY SEE AND MERGE, CONSOLIDATE, DISSOLVE, OR CHANGE THE CORPORATE STRUCTURE OF THE UNIVERSITY. EXCEPT TO THE EXTENT RESERVED TO CMHE, THE BOARD OF TRUSTEES IS EMPOWERED TO MANAGE THE PROPERTY AND BUSINESS OF THE UNIVERSITY, INCLUDING WITHIN SUCH AUTHORITY, THE POWER TO DELEGATE SUCH RESPONSIBILITIES AND DUTIES TO THE OFFICERS OF GEORGIAN COURT UNIVERSITY AS THE BOARD OF TRUSTEES DEEMS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 11B THE UNIVERSITY'S FORM 990 WAS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM IN CONJUNCTION WITH THE UNIVERSITY'S FINANCE DEPARTMENT. A DRAFT IS PREPARED AND DISTRIBUTED TO THE FULL AUDIT COMMITTEE FOR REVIEW. THE AUDIT COMMITTEE RECOMMENDS AND APPROVES FOR FILING THE FORM 990. THE FORM 990, AS ULTIMATELY FILED WITH THE IRS, IS DISTRIBUTED TO THE FULL BOARD IN ADVANCE OF ITS FILING. FORM 990, PART VI, SECTION B, LINE 12 EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE OF THE UNIVERSITY IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, FAMILY OR BUSINESS RELATIONSHIPS, OR POSITION WITH THE UNIVERSITY. THE UNIVERSITY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH A CONFLICT OF INTEREST STATEMENT THAT IS COMPLETED BY EACH BOARD MEMBER AT THE ANNUAL JUNE MEETING. THESE ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD. IN ADDITION TO THE BOARD MEMBERS, THE EXECUTIVE LEVEL, ALL FINANCE STAFF, AS WELL AS ANYONE IN POSITIONS IDENTIFIED BY FUNCTION TO HAVE POSSIBLE INFLUENCE WITH CONTRACT OR FINANCIAL TRANSACTIONS OR SYSTEMS WITHIN THE UNIVERSITY, COMPLETE THE QUESTIONNAIRE ANNUALLY. THESE ARE REVIEWED BY THE CHIEF FINANCIAL OFFICER AND DIRECTOR OF HUMAN RESOURCES. ANY DISCLOSED RELATIONSHIPS ARE COMMUNICATED TO THE CONTROLLER FOR THE PURPOSE OF AUDIT, INTERNAL CONTROLS AND COMPLETING THE FORM 990. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY UNDERTAKES A THOROUGH PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND ALL OF ITS OFFICERS AND KEY EMPLOYEES OF ORGANIZATION IS REASONABLE GIVEN THE MARKET IN WHICH THE UNIVERSITY OPERATES. CEO COMPENSATION: THE EXECUTIVE COMMITTEE OF THE BOARD, REVIEWS THE COMPENSATION PACKAGE OF THE PRESIDENT ANNUALLY AT ITS JUNE MEETING. COMPENSATION LEVEL IS DECIDED UPON UTILIZING COMPARATIVE DATA RECEIVED FROM THE HUMAN RESOURCE DEPARTMENT. OFFICER POSITIONS ARE ASSIGNED A SALARY RANGE ESTABLISHED BY A COMPENSATION STUDY DONE BY AN OUTSIDE FIRM AND THE EXECUTIVE COMMITTEE OF THE BOARD ALSO REVIEWS THE COMPENSATION FOR THESE EMPLOYEES WHO ARE CONSIDERED HIGHEST-PAID EMPLOYEES. THE OFFICERS RESIDE ON THE PRESIDENT'S ADMINISTRATIVE TEAM, CATEGORIZED AS THE EXECUTIVE LEVEL OF THE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE LISTED WITH BOND REPORTING AGENCIES. FORM 990, PART VII PRESIDENT, SISTER ROSEMARY JEFFRIES IS REPRESENTED AS HAVING RECEIVED NO COMPENSATION FROM THE UNIVERSITY BECAUSE THE ORDER SHE REPRESENTS RECEIVES ALL COMPENSATION SHE WOULD OTHERWISE BE PAID. THE SISTERS OF MERCY FULFILL VARIOUS ROLES WITHIN THE UNIVERSITY. SOME POSITIONS, WHICH WOULD OTHERWISE BE FILLED WITH LAY PERSONS, ARE ASSIGNED A VALUE FOR COMPENSATION AND PAYMENTS FOR THESE SERVICES ARE MADE TO THE SISTERS OF MERCY. THE PAYMENTS MADE FOR THE CALENDAR YEAR 2013 TOTALED $724,190 AND THE COMPENSATION FOR THIS POSITION IS INCLUDED IN THIS FIGURE. THIS COMPENSATION IS NOT TREATED AS TAXABLE INCOME TO THE SISTERS SINCE THEY ARE MEMBERS OF A RELIGIOUS ORDER. THEREFORE, SISTER ROSEMARY JEFFRIES IS STILL DEEMED TO BE AN INDEPENDENT MEMBER OF THE GOVERNING BODY FOR PURPOSES OF PART VI OF THE FORM 990. FORM 990, PART XI, LINE 9 SPLIT INTEREST AGREEMENTS/LIFE INS SURRENDER VALUE $80,757 REFUND OF CONTRIBUTION (5,275) -------- TOTAL $75,482 ======== Conference for Mercy Higher Education 8630 Fenton Street 934 Silver Spring MD 20190 431973007 Sponsorship MD 501(c)(3) 1 NA false PAUL DELAURENTIS PERPETUAL SCHOLARSHIP 400 LOCUST STREET LAKEWOOD NJ 08701 TRUST NJ TRUST 10498 283092 1.00000 true PETER DELAURENTIS PERPETUAL SCHOLARSHIP 400 LOCUST STREET LAKEWOOD NJ 08701 TRUST NJ TRUST 15808 444057 1.00000 true false true true false false false false false false false false false false false false false false false false