2015-05-05T14:33:23-05:00 2014-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2013-07-01 250965557 SETON HILL UNIVERSITY SETO 7248342200 ONE SETON HILL DRIVE GREENSBURG PA 15601 DAVID P MYRON VP FOR FINANCE, CFO 7248342200 2015-05-04 1 SUSAN M KIRSCH P00341397 4122613644 2013 2016-02-25 16:41:14Z MARY FINGER ONE SETON HILL DRIVE GREENSBURG PA 15601 80186228 0 X WWW.SETONHILL.EDU X 1885 PA COMPREHENSIVE INSTITUTION OF HIGHER LEARNING PROVIDING UNDERGRADUATE & GRADUATE STUDENT EDUCATION 32 29 1281 55 64289 -224 14512999 6466197 64822851 67004674 1832080 2179605 42460 55752 81210390 75706228 22886435 24138224 0 0 24663933 25958010 0 0 858703 19713085 21640519 67263453 71736753 13946937 3969475 122986337 141552159 29911172 41846479 93075165 99705680 X COMPREHENSIVE INSTITUTION OF HIGHER LEARNING PROVIDING UNDERGRADUATE AND GRADUATE STUDENT EDUCATION. 0 0 68493435 24138224 67004674 SETON HILL UNIVERSITY IS A CATHOLIC LIBERAL ARTS UNIVERSITY LOCATED IN SOUTHWESTERN PENNSYLVANIA. ITS PURPOSE IS TO BE A FOSTERING COMMUNITY OF TEACHERS AND LEARNERS COMMITTED TO THE STUDY OF LIBERAL ARTS AND SCIENCES.THE UNIVERSITY'S EDUCATIONAL OFFERINGS INCLUDE MAJOR COURSES OF STUDY IN EDUCATION, HUMANITIES, NATURAL SCIENCES, SOCIAL SCIENCES, AND VISUAL AND PERFORMING ARTS; BOTH AT THE UNDERGRADUATE AND GRADUATE LEVEL. IN ADDITION TO THE OFFERINGS OF A LIBERAL ARTS EDUCATION, SETON HILL RECOGNIZES THE NEED FOR QUALIFIED HEALTH CARE PROFESSIONALS, PARTICULARLY IN THE PRIMARY CARE FIELDS IN RURAL AND UNDERSERVED AREAS. TO HELP FILL THIS NEED, SETON HILL OFFERS A PHYSICIAN ASSISTANT PROGRAM AND ALSO HAS A CO-OPERATIVE DEGREE PROGRAM WITH THE LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM).-SETON HILL OFFERS TWO DEGREES IN THE PHYSICIAN ASSISTANT CURRICULUM: A COMBINED BACHELOR OF SCIENCE/MASTER OF SCIENCE PROGRAM AND A MASTER OF SCIENCE PROGRAM. THROUGH THE PHYSICIAN ASSISTANT PROGRAM AT SETON HILL UNIVERSITY, STUDENTS ARE EXPOSED TO A BROAD RANGE OF ACADEMIC EXPERIENCES AND HANDS-ON CLINICAL PRACTICE. -SETON HILL'S COOPERATIVE DEGREE PROGRAM WITH THE LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM) ENABLES QUALIFYING SETON HILL FRESHMEN TO ALSO RESERVE A SEAT IN A MEDICAL SCHOOL LOCATED ON SETON HILL'S CAMPUS - AND TO EARN BOTH AN UNDERGRADUATE B.S. DEGREE AND A D.O. MEDICAL DEGREE IN AS LITTLE AS SEVEN YEARS.ALONG WITH ITS HEALTH CARE PROGRAMS, SETON HILL UNIVERSITY ALSO OFFERS AN ORTHODONTIC MASTERS DEGREE ACCREDITED BY THE AMERICAN DENTAL ASSOCIATION. THROUGH THIS HANDS ON EDUCATIONAL PROGRAM, THE UNIVERSITY IS ABLE TO OFFER ORTHODONTIC TREATMENT TO PATIENTS WHO WOULD OTHERWISE NOT BE ABLE TO AFFORD SUCH SERVICES THROUGH A PRIVATE PRACTITIONER.THE UNIVERSITY'S STUDENT BODY IS DIVERSE, COMING FROM ALL WALKS OF LIFE, AND INCLUDES STUDENTS FROM 49 STATES AND 17 COUNTRIES. APPROXIMATELY 21% OF THE FRESHMAN CLASS OF THE 2013-14 ACADEMIC YEAR WERE NON-CAUCASIAN.IN ADDITION TO SERVING THE TRADITIONAL UNDERGRADUATE AGED STUDENT, THE UNIVERSITY ALSO OFFERS THE OPPORTUNITY FOR NON-TRADITIONAL AGED ADULT LEARNERS TO PURSUE A DEGREE THROUGH ITS ADULT DEGREE PROGRAM. THIS INITIATIVE IS CURRENTLY SERVING 147 ADULTS FROM THE COMMUNITY.SETON HILL UNIVERSITY OFFERS A FINANCIAL AID PROGRAM TO THEIR STUDENTS THAT IS DESIGNED TO HELP STUDENTS WHO WOULD FIND IT DIFFICULT OR IMPOSSIBLE TO ATTEND COLLEGE WITHOUT SOME FINANCIAL ASSISTANCE. THE UNIVERSITY OFFERS A COMPREHENSIVE PROGRAM OF FINANCIAL AID IN THE FORM OF SCHOLARSHIPS, GRANTS, LOANS, PART-TIME EMPLOYMENT, AND DEFERRED PAYMENT SCHEDULES AND COORDINATES PROGRAMS FROM THE FEDERAL AND STATE FINANCIAL AID PROGRAMS. ANY OF THESE FORMS OF FINANCIAL AID MAY BE OFFERED SINGLY OR IN VARIOUS COMBINATIONS TO A STUDENT. THE AMOUNT OF FINANCIAL AID AN APPLICANT RECEIVES IS BASED ON THE DIFFERENCE BETWEEN THE TOTAL COSTS AND THE AMOUNT THE STUDENT AND FAMILY ARE ABLE TO CONTRIBUTE TOWARD COSTS AS DETERMINED BY THE NEEDS ANALYSIS. DURING THE FISCAL YEAR ENDING JUNE 30, 2014 THE UNIVERSITY AWARDED IN EXCESS OF $24,000,000 IN UN-FUNDED AID TO ITS STUDENTS. THE UNIVERSITY IS AN ACTIVE PARTICIPANT IN THE TRADE ADJUSTMENT ACT. DURING THE FISCAL YEAR ENDING JUNE 30, 2014 THERE WERE 37 ADULT STUDENTS WHO WERE ENROLLED AT SETON HILL UNDER THIS PROGRAM FOR DISPLACED WORKERS. THE UNIVERSITY ALSO SERVED 56 VETERANS UNDER THE CHAPTER 33 POST 911 GI BILL. IN ADDITION TO SERVING THE COMMUNITY AS A LIBERAL ARTS SCHOOL OF HIGHER EDUCATION, THE UNIVERSITY ALSO SERVES THE COMMUNITY BY OFFERING A CHILD DEVELOPMENT CENTER FOR PRESCHOOL AGED STUDENTS. CURRENTLY, THERE ARE APPROXIMATELY 45 CHILDREN ENROLLED IN THIS SERVICE.SETON HILL UNIVERSITY HAS ALSO PARTNERED WITH THE CITY OF GREENSBURG, WESTMORELAND COUNTY, AND THE GREENSBURG SALEM SCHOOL DISTRICT OFFERING A CENTER FOR PERFORMING ARTS, LOCATED IN DOWNTOWN GREENSBURG. THE FACILITY ENABLES THE UNIVERSITY TO IMPLEMENT PROGRAMS IN THIS FIELD. THE CENTER ALSO DRAWS VISITORS AND SCHOOL AGED YOUTH FROM AROUND THE REGION TO MUSICAL AND THEATRICAL PRODUCTIONS. IN ADDITION TO ITS COLLEGE LEVEL MUSIC PROGRAM, THE UNIVERSITY ALSO SERVES 300 YOUTH AND ADULT STUDENTS THROUGH ITS COMMUNITY ARTS PROGRAM. THE UNIVERSITY SUBSIDIZES THESE PROGRAMS, AS THE TUITION CHARGED DOES NOT COVER THE ENTIRE COST OF OPERATING THESE PROGRAMS. 68493435 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 3593 0 1 1281 1 1 1 0 0 0 0 0 0 0 0 0 X 32 29 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X DAVID MYRON 7248384215 ONE SETON HILL DRIVE GREENSBURG PA 15601 X BARBARA BOSS SC TRUSTEE 0.50 0.00 X 0 0 0 JAMES R BREISINGER TRUSTEE 4.40 0.10 X 0 0 0 LAWRENCE BUSCH TRUSTEE 0.30 0.00 X 0 0 0 LAURIE A CARROLL TRUSTEE 0.30 0.00 X 0 0 0 LALIT CHORDIA TRUSTEE 0.90 0.00 X 0 0 0 KEVIN COLOSIMO TRUSTEE 0.30 0.00 X 0 0 0 JULIA TRIMARCHI CUCCARO ESQ TRUSTEE 1.40 0.00 X 0 0 0 SARA CUTTING TRUSTEE 0.70 0.00 X 0 0 0 PATRICK DECOURCY TRUSTEE 0.20 0.00 X 0 0 0 ROBERT DEMICHIEI TRUSTEE 0.30 0.00 X 0 0 0 LYN MARIE DWYER SC TRUSTEE 0.30 0.00 X 0 0 0 BARBARA EINLOTH SC TRUSTEE 0.40 0.00 X 0 0 0 BRYCELYN EYLER SC TRUSTEE 1.50 0.10 X 0 0 0 MATTHEW GALANDO TRUSTEE 0.50 0.00 X 0 0 0 RUTH O GRANT TRUSTEE 0.60 0.00 X 0 0 0 LOUISE GRUNDISH SC TRUSTEE 1.10 0.00 X 0 0 0 RICHARD C HENDRICKS TRUSTEE 0.70 0.10 X 0 0 0 MARY ELLEN COONEY HIGGINS TRUSTEE 0.10 0.00 X 0 0 0 H PHIPPS HOFFSTOT III TRUSTEE 0.50 0.00 X 0 0 0 DAVID IWINSKI JR TRUSTEE 0.50 0.00 X 0 0 0 SUSAN JENNY SC TRUSTEE 0.50 0.00 X 0 0 0 RICHARD A KACIN TRUSTEE 1.70 0.00 X 0 0 0 MARY NORBERT LONG SC TRUSTEE 0.50 0.00 X 0 0 0 MARY JO MUTSCHLER SC TRUSTEE 0.50 0.00 X 0 0 0 REBECCA C SNYDER TRUSTEE 1.20 0.00 X 0 0 0 KAREN FARMER WHITE TRUSTEE 1.20 0.00 X 0 0 0 DANIEL J WUKICH SR TRUSTEE 0.90 0.00 X 0 0 0 MICHELE M RIDGE CHAIR 10.60 0.00 X X 0 0 0 BISHOP LAWRENCE E BRANDT HONORARY CHAIR/EX-OFFICIO 0.20 0.00 X X 0 0 0 CATHERINE MEINERT SC VICE CHAIR 4.90 0.00 X X 0 0 0 GERTRUDE FOLEY SC SECRETARY 1.10 0.00 X X 0 0 0 BIBIANA BOERIO INTERIM PRESIDENT (AS OF 8/2013) 55.00 0.10 X X 102981 0 38844 CAROL BILLMAN ASSISTANT SECRETARY 40.00 0.00 X 57362 0 5585 DAVID MYRON INTERIM VP FOR FINANCE (ENTER 10/13) 55.00 0.00 X 27449 0 12611 PAUL ROMAN VP FOR FINANCE (THROUGH 10/2013) 55.00 0.00 X 180180 0 47004 MARY ANN GAWELEK PROVOST/DEAN OF FACULTY 55.00 0.00 X 172595 0 59717 CHRISTINE MUESELER VP FOR INSTITUTIONAL ADVANCEMENT 55.00 0.00 X 147257 0 40753 DONALD J RINCHUSE DIR. & PROF. OF ORTHODONTICS 55.00 0.00 X 175677 0 15227 DANIEL J RINCHUSE ASSOC. DIR. & PROF. OF ORTHODONTICS 55.00 0.00 X 165394 0 14245 PHILIP KOMONARY VP FOR INFORMATION TECHNOLOGY 55.00 0.00 X 152925 0 59999 MICHAEL POLL VP FOR ENROLLMENT MANAGEMENT 55.00 0.00 X 131156 0 70084 JOANNE W BOYLE FORMER PRESIDENT 55.00 0.00 X 446000 0 33955 1758976 0 398024 10 1 1 0 PJ DICK INC 225 NORTH SHORE DRIVE PITTSBURGH PA 15212 CONSTRUCTION 3849234 ARAMARK INC PO BOX 198532 ATLANTA GA 303848532 FOOD SERVICE 1920863 TUSCANO-MAHER ROOFING 373 MOWEEN ROAD SALTSBURG PA 15681 CONSTRUCTION 767614 MACLACHLAN CORNELIUS & FILONI 307 FOURTH AVE PITTSBURGH PA 15222 ARCHITECTS 642752 SISTERS OF CHARITY DEPAUL CENTER 463 MT THOR ROAD GREENSBURG PA 15601 INSTRUCTORS & ADMINISTRATION 507097 11 145 2498375 3967677 761371 6466197 TUITION & FEES 611710 55129166 55129166 ROOM & BOARD 611710 8072372 8072372 OTHER AUXILIARY 722320 2092911 2028622 64289 ORTHODONIC PROGRAM 900099 802045 802045 STUDENT ACTIVITIES&OTHER PROGRAMS 611710 493465 493465 414715 414715 67004674 463559 463559 6191069 4475023 1716046 1716046 1716046 44410 145 3122 41288 41288 16319 1855 14464 14464 75706228 66940385 64289 2235357 70000 70000 24068224 24068224 1599357 1097243 418061 84053 51506 30904 20602 18542373 17431784 825652 284937 898521 812461 67517 18543 3510224 3307546 176574 26104 1356029 1246899 91929 17201 141536 141536 90008 1894 88114 204421 204421 4016867 3777908 140074 98885 895610 864759 30851 4544896 4375598 39234 130064 1198800 1198800 1999905 1873909 84233 41763 1767084 1665990 36145 64949 838507 838022 485 3590030 3584530 5500 465692 465193 499 BAD DEBTS 567931 567931 STUDENT EVENTS 377441 348476 28965 MISCELLANEOUS 355872 340870 14877 125 MEMBERSHIPS/SUBSCRIPT. 335118 308661 14796 11661 250801 246737 4064 71736753 68493435 2384615 858703 457938 527051 11374454 23709655 6355125 3122207 5442546 4912190 1807388 1792242 25323 17490 144665 196679 116097962 45393979 62362595 70703983 28968449 29254171 5139976 6040927 907878 1275564 122986337 141552159 4050733 7503493 4727539 4430927 18535744 27394185 1143331 1072746 1453825 1445128 29911172 41846479 X 32159288 33302783 42391072 47346130 18524805 19056767 93075165 99705680 122986337 141552159 3969475 2661040 0 X X 0 1 X 1 1 1 X 8588394 5442271 4503027 14512999 6466197 39512888 8588394 5442271 4503027 14512999 6466197 39512888 7174048 32338840 361727 407396 382767 474840 463559 2090289 146 1779 8790 10715 41613892 309709499 0.77710 0.83810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1000000 1000000 1000000 1000000 4000000 6000000 58016 42000 0 0 100016 250000 250000 250000 250000 1000000 1500000 X X X X 0 32873542 531962 4635959 1214234 2583373 34243856 30041844 1376957 2801953 1319409 27803 32873542 30207004 1206208 -399987 721736 249645 30041844 24361777 1953582 4883622 763822 228155 30207004 20102743 2634153 1928402 303520 24361777 0.24470 0.19880 0.55650 0 0 314300 314300 46754758 19145784 27608974 32023323 3216214 28807109 12991786 11410194 1581592 24013795 11621787 12392008 70703983 DEPOSITS HELD FOR OTHERS 51837 STUDENT DEPOSITS 360118 LAND LEASE OBLIGATION 228144 STUDENT LOAN ADVANCES 805029 1445128 X 54079675 2661040 44364 4977 2710381 51369294 204421 24132513 24336934 75706228 47449160 44364 4977 49341 47399819 204421 24132513 24336934 71736753 PART III, LINE 1A: THE UNIVERSITY'S COLLECTIONS INCLUDE RELIGIOUS ICONS, PAINTINGS, PRINTS, PHOTOGRAPHS, SCULPTURES, DRAWINGS AND WATERCOLORS, AND DECORATIVE ARTS. THESE ITEMS ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENDITURES IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PART III, LINE 4: THE ART COLLECTION OF SHU CONSISTS PRIMARILY OF THE BRAEMER MADONNA COLLECTION, THE LYNCH ETCHINGS, THE ART DEPARTMENT PRINT COLLECTION, AND THE RELIGIOUS STATUARY, ICONOGRAPHY & REALIA. THE BRAEMER MADONNA COLLECTION COMPRISES OVER A HUNDRED PIECES INCLUDING PAINTINGS, RELIEFS, SCULPTURES AND FURNITURE. THE LYNCH ETCHINGS RANGE FROM A PIECE BY REMBRANDT TO LOCAL ARTISTS. THE COLLECTION OF PRINTS MAINTAINED BY THE ART DEPARTMENT INCLUDE NUMBERED PIECES BY NATIONALLY KNOW PRINTMAKERS FROM THE 1960'S-1980'S, AND A WIDE COLLECTION OF PRINTS BY SETON HILL STUDENTS. THERE IS ALSO A WIDE VARIETY OF RELIGIOUS STATUARY RANGING FROM A CAST ANGEL AND CHILD WHICH WELCOMED PEOPLE TO THE HILL SINCE 1892 TO PIECES DEPICTING MARY, JOSEPH AND ELIZABETH ANN BAYLEY SETON. SETON HILL IS ALSO HOME TO SEVERAL SCULPTURES OF JOSEPHA FILKOSKY, A FORMER FACULTY MEMBER. A LARGE NUMBER OF THE PIECES IN THE SHU COLLECTIONS ARE ON EXHIBIT THROUGHOUT THE UNIVERSITY AT ANY GIVEN TIME. AS WELL, THE PIECES ARE USED FOR HANDS ON TRAINING IN PRESERVATION AND RESTORATION FOR ART INTERNS. PART V, LINE 4: IT IS THE POLICY OF THE UNIVERSITY TO PROTECT AND GROW THE VALUE OF ITS INVESTMENT ASSETS. THE UNIVERSITY THEREFORE ATTEMPTS TO MINIMIZE ALL RISKS INHERENT TO THE INVESTMENT PROCESS THROUGH PROPER DIVERSIFICATION. THE ASSET ALLOCATION AND SPENDING POLICIES SHALL SEEK TO PRODUCE A NET, INFLATION-ADJUSTED, POSITIVE RETURN AFTER SPENDING. THE ASSET ALLOCATION POLICY SHALL BE CONSISTENT WITH THE INVESTMENT OBJECTIVES OF THE ENDOWMENT AND ARE BASED ON THE CAPITAL MARKET ASSUMPTIONS LISTED BELOW. THE TARGET ASSET ALLOCATION FOR THE MAIN ENDOWMENT PORTFOLIOS SHALL BE 70% EQUITY AND 30% FIXED-INCOME WITH A VARIATION OF 5% ABOVE OR BELOW THESE TARGETS FOR EACH CLASSIFICATION. CHANGES IN THE VARIATION AROUND THE TARGET ALLOCATIONS WILL BE MADE BY THE ASSET MANAGER IN CONSULTATION WITH THE INVESTMENT MANAGER. IT IS THE GENERAL INTENT OF AND POLICY OF THE UNIVERSITY TO PROMOTE THE INTERNAL GROWTH OF ITS ENDOWMENT ASSETS IN SUCH A MANNER SO THAT THE POTENTIAL INCOME THAT CAN BE GENERATED FROM THE INCREASED SIZE OF THIS PORTFOLIO WILL REPRESENT A SIGNIFICANT CONTRIBUTION TO THE UNIVERSITY'S FISCAL WELL-BEING. THIS INTERNAL PORTFOLIO GROWTH WILL BE REINFORCED WHENEVER POSSIBLE BY THE APPROPRIATE REINVESTMENT OF INCOME AND CAPITAL GAINS. WITHIN THIS GENERAL INTENT, THE UNIVERSITY HAS ADOPTED A TOTAL RETURN POLICY FOR THE ENDOWMENT ASSETS AND IS, THEREFORE, ELECTING TO ADOPT THE TOTAL RETURN POLICY UNDER ACT 141 AS IT IS INCORPORATED IN TITLE 15, AND 5548 OF THE PENNSYLVANIA CONSOLIDATED STATUTES ANNOTATED. IT HAS BEEN THE GENERAL POLICY OF THE UNIVERSITY UNDER ACT 141 TO TREAT 7% OF THE FAIR MARKET VALUE OF THE ENDOWMENT ASSETS AS INCOME EACH YEAR. THE UNIVERSITY PLANS TO REDUCE THE RETURN POLICY FROM 7% TO 4% COMMENCING WITH THE 2014 FISCAL YEAR. IN NO WAY IS THIS GENERAL POLICY MEANT TO UNDULY DEPLETE PORTFOLIO ASSETS OR TO IMPAIR THE PRESERVATION OF THE PURCHASING POWER OF THE INVESTED FUNDS. IN ORDER TO PROTECT AGAINST SUCH ASSET DEPLETION, IT SHALL BE THE RESPONSIBILITY OF THE BOARD TO ANNUALLY REVIEW AND ADJUST THIS POLICY TO FIT CURRENT BUDGETARY CONDITIONS, ACTUAL RETURNS OF THE PORTFOLIO, AND THE NEEDS OF THE UNIVERSITY. DEFICIENCY IN DONOR-RESTRICTED ENDOWMENT FUNDS - FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH AN ENDOWED FUND MAY FALL BELOW THE LEVEL THAT A DONOR REQUIRES OR THE GOVERNING BOARD HAS DETERMINED IS APPROPRIATE. THE UNIVERSITY HAS $1,196 OF THE FAIR VALUE OF THE ENDOWMENT FUNDS BELOW CORPUS IN 2014 COMPARED TO $30,765 BELOW CORPUS IN 2013. THIS DEFICIENCY RESULTED FROM UNFAVORABLE MARKET DECLINES THAT OCCURRED AFTER THE INVESTMENT OF THESE ENDOWMENT FUNDS. PART X, LINE 2: THE UNIVERSITY HAS BEEN DETERMINED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (IRC) AND HAS FURTHER BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION IN ACCORDANCE WITH SECTIONS 170(B)(1)(A)(II) AND 509(C)(1) OF THE IRC. PROPERTIES HAS BEEN DETERMINED TO BE A TYPE I SUPPORTING ORGANIZATION UNDER SECTION 509(A)(3) OF THE IRC. AS A RESULT, NO PROVISION FOR TAXES HAS BEEN MADE IN THE ACCOMPANYING COMBINED FINANCIAL STATEMENTS. THE UNIVERSITY FOLLOWS THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION, CLARIFYING THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS TOPIC REQUIRES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR FINANCIAL STATEMENT DISCLOSURES OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE UNIVERSITY HAS ASSESSED THE TAX POSITIONS IT HAS TAKEN OR EXPECTS TO TAKE IN ITS TAX RETURNS, AND NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED; FURTHER, THE UNIVERSITY HAS NO UNRECOGNIZED TAX BENEFITS. THE UNIVERSITY IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF FUNDRAISING EXPENSES 4,977. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 24,068,224. RECLASS OF CATERING INCOME FROM EXPENSES 64,289. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF FUNDRAISING EXPENSES 4,977. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 24,068,224. RECLASS OF CATERING INCOME FROM EXPENSES 64,289. 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 NONDISCRIMINATION POLICY IS POSTED ON THE SCHOOL'S WEBSITE, AND IS INCLUDED IN ADVERTISEMENTS FOR EMPLOYMENT. SCHEDULE E, PART I, LINE 6 SETON HILL UNIVERSITY RECEIVES GRANTS FROM FEDERAL AND STATE AGENCIES TO SUPPORT ITS EDUCATIONAL MISSION. EUROPE 0 0 PROGRAM SERVICES STUDENTS TRAVELING ABROAD AS PART OF THEIR COURSE WORK 77033 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENTS TRAVELING ABROAD AS PART OF THEIR COURSE WORK 28151 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS ALTERNATIVE INVESTMENTS 5826998 0 0 0 0 0 0 5932182 0 5932182 1 0 1 1 1 0 MERCHANDISE SALES 44555 145 44410 3122 44555 145 44410 3122 3122 41288 16319 1855 1 1.00000 16319 1855 1855 14464 PA 1 0 1 0 1.00000 SETON HILL UNIVERSITY ACCOUNTING DE ONE SETON HILL DRIVE GREENSBURG PA 15601 0 0 1 CITY OF GREENSBURG 416 SOUTH MAIN ST GREENSBURG PA 15601 256058560 GOVERNMENT 60000 0 N/A N/A GENERAL SUPPORT LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE 1858 W GRANDVIEW BLVD ERIE PA 165091025 251698677 501(C)(3) 10000 0 N/A N/A GENERAL SUPPORT 2 0 SCHOLARSHIPS AND UNIVERSITY GRANTS 1929 24068224 N/A N/A PART I, LINE 2: THE MAJORITY OF GRANT FUNDS AWARDED BY THE UNIVERSITY ARE IN THE FORM OF FINANCIAL AID TO ITS STUDENTS. THE ORGANIZATION'S FINANCIAL AID OFFICE AWARDS NEED AND MERIT BASE AID BASED ON THE CRITERIA ESTABLISHED BY THE UNIVERSITY. THE FINANCIAL AID PROGRAM AT SETON HILL UNIVERSITY ASSISTS STUDENTS WHO WOULD FIND IT DIFFICULT OR IMPOSSIBLE TO ATTEND COLLEGE WITHOUT SOME FINANCIAL ASSISTANCE. THE UNIVERSITY OFFERS A COMPREHENSIVE PROGRAM OF FINANCIAL AID IN THE FORM OF SCHOLARSHIPS, GRANTS, LOANS, PART-TIME EMPLOYMENT, AND DEFERRED PAYMENT SCHEDULES, AND COORDINATES ITS PROGRAMS WITH THE FEDERAL AND STATE FINANCIAL AND PROGRAMS. ANY OF THESE FORMS OF FINANCIAL AID MAY BE OFFERED INDEPENDENTLY OR IN VARIOUS COMBINATIONS TO A STUDENT. THE FINANCIAL AID OFFICE ESTIMATES THE COST OF ATTENDING SETON HILL UNIVERSITY BY ADDING TUITION, ROOM, BOARD AND FEES PLUS AN ESTIMATE FOR BOOKS, SUPPLIES, TRANSPORTATION FROM HOME TO SCHOOL AND PERSONAL EXPENSES. THE AMOUNT OF FINANCIAL AID AN APPLICANT RECEIVES IS BASED ON THE DIFFERENCE BETWEEN THE TOTAL COSTS AND THE AMOUNT THE STUDENT AND FAMILY ARE ABLE TO CONTRIBUTE TOWARD COSTS AS DETERMINED BY THE NEEDS ANALYSIS FORM. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 PAUL ROMAN VP FOR FINANCE (THROUGH 10/2013) 163846 0 16334 0 0 0 32891 0 14113 0 227184 0 16334 0 MARY ANN GAWELEK PROVOST/DEAN OF FACULTY 157257 0 15338 0 0 0 45128 0 14589 0 232312 0 15512 0 CHRISTINE MUESELER VP FOR INSTITUTIONAL ADVANCEMENT 133939 0 13318 0 0 0 34903 0 5850 0 188010 0 13318 0 DONALD J RINCHUSE DIR. & PROF. OF ORTHODONTICS 175677 0 0 0 0 0 9729 0 5498 0 190904 0 0 0 DANIEL J RINCHUSE ASSOC. DIR. & PROF. OF ORTHODONTICS 165394 0 0 0 0 0 8747 0 5498 0 179639 0 0 0 PHILIP KOMONARY VP FOR INFORMATION TECHNOLOGY 138925 0 14000 0 0 0 16121 0 43878 0 212924 0 14000 0 MICHAEL POLL VP FOR ENROLLMENT MANAGEMENT 119656 0 11500 0 0 0 21788 0 48296 0 201240 0 0 0 JOANNE W BOYLE FORMER PRESIDENT 128500 0 51400 0 266100 0 20400 0 13555 0 479955 0 51400 0 PART I, LINE 1A THE PRESIDENT'S EMPLOYMENT CONTRACT HAS PROVISIONS FOR A NON-ACCOUNTABLE EXPENSE ACCOUNT AND HOUSING ALLOWANCE. THE UNIVERSITY TREATS THESE ITEMS AS ADDITIONAL COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON THE PRESIDENT'S W-2. PART I, LINE 4B PAUL ROMAN - $16,250; MARY ANN GAWELEK - $16,056; CHRISTINE MUESELER - $11,010; PHILIP KOMARNY - $7,105; MICHAEL POLL - $6,181. PART I, LINE 7 PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT, THE PRESIDENT AND VICE PRESIDENTS OF THE UNIVERSITY PARTICIPATE IN AN ANNUAL VARIABLE COMPENSATION PROGRAM. PAYMENTS ARE CONTINGENT ON THE ACHIEVEMENT OF ATTAINABLE BUSINESS PERFORMANCE OBJECTIVES ESTABLISHED BY THE COMPENSATION COMMITTEE. A PORTION OF THE AMOUNT DISCLOSED AS DEFERRED COMPENSATION IN PART II, COLUMN C, REPRESENTS AN ACCRUAL FOR THE MAXIMUM ALLOWABLE AMOUNT ATTRIBUTABLE TO THE VARIABLE COMPENSATION PROGRAM FOR THE YEAR ENDED JUNE 30, 2014. FORM 990, SCHEDULE J, PART II: THE INDIVIDUALS LISTED IN PART II RECEIVED A VARIABLE COMPENSATION PROGRAM PAYMENT WHICH WAS ACCRUED AT THE MAXIMUM AMOUNT OF POTENTIAL EARNINGS DURING THE FISCAL YEAR ENDED JUNE 30, 2014 AND REPORTED ON THE 2013 FORM 990, SCHEDULE J, PART II, COLUMN C. THE BONUS PAYMENT IS DISCLOSED ON SCHEDULE J, PART II, COLUMN (B)(II) AND COLUMN F AND IS REPRESENTATIVE OF THE ACTUAL AMOUNT OF THE PAYOUT UNDER THE VARIABLE COMPENSATION PROGRAM. FORM 990, SCHEDULE J, PART II: THE UNIVERSITY'S FORMER PRESIDENT, DR. JOANNE W. BOYLE, RETIRED ON JUNE 30, 2013. HER CONTRACT STIPULATED RECEIPT OF ONE YEAR SABBATICAL WHICH WAS PAID AT THE END OF HER CONTRACT. A PORTION OF THE AMOUNT REPORTED IN COLUMN (B)(III) REPRESENTS THIS PAYMENT. A LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251763674 2004-04-05 8500000 TO FINANCE NEW DORMITORY, ATHLETIC FIELDS AND PARKING LOT 0 0 0 B LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251763674 2005-06-28 8700000 NEW RESIDENCE HALL, & FIELD HOUSE PARKING LOT RESURFACE, BLDG RENOVATIONS 0 0 0 C LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251763674 2006-12-19 8000000 TO FINANCE PERFORMING ARTS CENTER 0 0 0 D WESTMORELAND INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2009-02-06 1200000 TO FINANCE PERFORMING ARTS CENTER 0 0 0 A 8402506 97494 8402506 2005 0 0 0 1 B 8700000 86942 8613058 2006 0 0 0 1 C 8000000 73867 7926133 2010 0 0 0 1 D 1200000 24000 1176000 2010 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 A WESTMORELAND INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2009-06-18 366394 TO PURCHASE STEINWAY PIANOS 0 0 0 B WESTMORELAND INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2013-12-19 5500000 TO FINANCE THE INVESTMENT IN THE DANCE & VISUAL ARTS CENTER 0 0 0 C WESTMORELAND INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2013-12-19 1500000 TO FINANCE CONSTRUCTION OF THE DANCE & VISUAL ARTS CENTER 0 0 0 D LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2014-06-30 4500000 TO FINANCE THE INVESTMENT IN JOANNE WOODWARD BOYLE HEALTH CENTER 0 0 0 A 366394 366394 2009 0 0 0 1 B 5500000 5500000 2013 0 0 0 1 C 1450000 50000 1450000 2013 0 0 0 1 D 4500000 4500000 2014 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 1 0 0 0 0 0 C 1 0 0 0 0 0 D 1 0 0 0 0 0 A 0 A LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251433993 2014-06-30 4000000 TO FINANCE CONSTRUCTION OF THE JOANNE WOODWARD BOYLE HEALTH CENTER 0 0 0 A 4000000 50000 3950000 2014 0 0 0 1 A 0 0 0 0 0 0 0 A 1 0 0 0 0 0 ENROLLED STUDENTS FAMILY OF BOARD 17500 SCHOLARSHIP EDUCATIONAL X 1953 FAIR MARKET VALUE X 1111 FAIR MARKET VALUE X 10 589631 FAIR MARKET VALUE X 1 20 FAIR MARKET VALUE X 3 360 FAIR MARKET VALUE X ORTHODONTIC 9 163170 FAIR MARKET VALUE X GIFT CARD/BAS 35 3978 FAIR MARKET VALUE X SPORTS EQUIPM 2 1030 FAIR MARKET VALUE X JEWELRY 2 119 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES SHALL CONSIST OF AT LARGE AND SISTERS OF CHARITY TRUSTEES, WHICH TOGETHER SHALL EQUAL THE TOTAL NUMBER OF TRUSTEES, ONE-THIRD (1/3) OF THE TOTAL NUMBER OF TRUSTEES SHALL BE SISTERS OF CHARITY. THIS ONE-THIRD (1/3) SHALL INCLUDE THE FIVE COUNCIL TRUSTEES, WHO WILL NOMINATE THE REMAINING SISTERS OF CHARITY TRUSTEES. THE BISHOP OF THE DIOCESE OF GREENSBURG SHALL BE AN HONORARY TRUSTEE WITH FULL MEMBERSHIP RIGHTS. FORM 990, PART VI, SECTION A, LINE 7B THE COUNCIL TRUSTEES SHALL RESERVE TO THEMSELVES THE FOLLOWING POWERS: (1) APPROVAL OF ANY CHANGES THAT AFFECT THE MISSION, PHILOSOPHY AND IDENTITY OF SETON HILL UNIVERSITY AS A CATHOLIC UNIVERSITY IN THE TRADITIONS OF THE SISTERS OF CHARITY OF SETON HILL; (2) APPROVAL OF ALL AMENDMENTS, MODIFICATIONS, RESTATEMENTS, OR CHANGES IN THE ARTICLES OF INCORPORATION AND BYLAWS OF SHU; (3) APPROVAL OF PLEDGES, ENCUMBRANCES, MORTGAGE OF ASSETS AND LONG-TERM INDEBTEDNESS IN EXCESS OF $3 MILLION, AND APPROVAL OF THE LEASE, SALE, JOINT VENTURE OR AFFILIATION OF SETON HILL UNIVERSITY; AND (4) THE DISSOLUTION OF SHU AND THE DETERMINATION OF THE DISTRIBUTION OF ASSETS UPON DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS FIRST REVIEWED BY FINANCE MANAGEMENT AND THE UNIVERSITY'S PRESIDENT AND THEN DISTRIBUTED TO THE FINANCE AND BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES FOR FINAL REVIEW. A COMPLETE COPY IS PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS NOTED BY BOARD MEMBERS ARE REPORTED TO THE COMMITTEE ON BOARD RELATIONS. CONFLICTS NOTED BY EMPLOYEES ARE REPORTED TO THE HUMAN RESOURCE COMMITTEE ON CONFLICTS OF INTEREST. BOTH COMMITTEES REVIEW THE REPORTED CONFLICT AND TAKE THE APPROPRIATE ACTION AS WARRANTED BY THE SITUATION. THE UNIVERSITY HAS A FORMAL POLICY IN THEIR BYLAWS REGARDING ANY CONFLICTS OF INTEREST THAT MAY EXIST WITHIN ITS GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY HAS A COMPENSATION COMMITTEE THAT ESTABLISHES THE PRESIDENT'S COMPENSATION. FOR THE CURRENT FISCAL YEAR, THE COMMITTEE CONTRACTED THE SERVICES OF AN INDEPENDENT CONSULTANT TO ASSIST WITH THE DETERMINATION OF COMPENSATION. THE COMPENSATION COMMITTEE, HOWEVER, INDEPENDENTLY APPROVED AND AWARDED THE FINAL COMPENSATION PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, TRUSTEE EMERITUS: THE FOLLOWING MEMBERS SERVE ON THE SETON HILL UNIVERSITY BOARD OF TRUSTEES AS TRUSTEE EMERITI BUT HAVE NO VOTING POWERS AT THE MEETINGS OF THE BOARD OF TRUSTEES: JEAN AUGUSTINE, S.C., PATRICK B. COSTELLO, MARY L. COSTELLO, LOUIS A. CRACO, ROBERT H. DAVIS, ROSEMARY DONLEY, S.C., JOHN R. ECHEMENT, FREDERICK R. FAVO, MAUREEN HALLORAN, S.C., BRIGID MARIE GRANDY, S.C., MARCIA M. GUMBERG, COLETTE HANLON, S.C., DONALD M. HENDERSON, PATRICE HUGHES, S.C., CHARLES M. LYNCH, III, JEREMY MAHLA, S.C., ARTHUR H. MEEHAN, MARLENE MONDALEK, S.C, DONALD I. MORITZ, BARBARA NAKLES, MAUREEN SHEEDY O'BRIEN, MAUREEN O'BRIEN, S.C., ELLENITA M. O'CONNOR, S.C., PAUL M. POHL, MARC ROBERTSHAW, ARTHUR J. ROONEY, JR., RALPH A. SCALISE, ANITA SCHULTE, S.C., LAWRENCE R. WERNER, JOSEPH WHITESIDE. FORM 990, PART XII, QUESTION 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT: ANNUALLY, THE FINANCE AND BUSINESS AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES, ENGAGES THE SERVICES OF AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING (CPA) FIRM TO CONDUCT AN AUDIT AND ISSUE AN OPINION ON THE UNIVERSITY'S FINANCIAL STATEMENTS. THE CPA FIRM REPORTS THE RESULTS OF THEIR FINDINGS AND ISSUES THEIR AUDITED FINANCIAL STATEMENTS TO THE COMMITTEE. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, LINE 1A, DELEGATING AUTHORITY: THE EXECUTIVE COMMITTEE SHALL EXERCISE THE POWERS AND AUTHORITY OF THE BOARD OF TRUSTEES DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD, WHEN, BASED ON THE BUSINESS OF NEEDS OF THE UNIVERSITY, IT IS DESIRABLE FOR THE BOARD TO MEET BUT, AS DETERMINED BY THE CHAIR, THE CONVENING OF A SPECIAL BOARD MEETING IS NOT WARRANTED. SETON HILL PROPERTIES ONE SETON HILL DRIVE GREENSBURG PA 15601 020790268 ORGANIZED TO CARRY OUT THE PURPOSES OF SETON HILL UNIVERSITY. PA 501(C)(3) 509(A)(3) TYPE I SETON HILL UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 SETON HILL PROPERTIES ONE SETON HILL DRIVE GREENSBURG PA 15601 020790268 0 0 0 0 0 0 0 0 0 0