2015-05-01T15:17:16-05:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 20 STANWIX STREET SUITE 800 PITTSBURGH PA 15222 990 2013-07-01 250964126 ST VINCENT COLLEGE CORPORATION STVI 7245399761 300 FRASER PURCHASE ROAD LATROBE PA 15650 RICHARD WILLIAMS TREASURER/VP OF FINANCE 7245399761 2015-04-27 1 BRIAN R LENART EA P00289136 4126976400 2013 2016-04-25 22:37:26Z BRO NORMAN HIPPS OSB 300 FRASER PURCHASE ROAD LATROBE PA 15650 89918021 0 X WWW.STVINCENT.EDU X 1846 PA TO PROVIDE QUALITY UNDERGRADUATE AND GRADUATE EDUCATION FOR MEN AND WOMEN. 44 44 1565 53 1124656 -38739 7649097 8790290 59516924 63209281 5362776 5927244 1582385 1932418 74111182 79859233 24170111 26149998 0 0 27850384 27858609 0 0 387682 22318531 21976035 74339026 75984642 -227844 3874591 207553354 217339218 42405756 41507985 165147598 175831233 X SAINT VINCENT COLLEGE IS AN EDUCATIONAL COMMUNITY ROOTED IN THE TRADITION OF THE CATHOLIC FAITH, THE HERITAGE OF BENEDICTINE MONASTICISM, AND THE LOVE OF VALUES INHERENT IN THE LIBERAL APPROACH TO LIFE AND LEARNING. ITS MISSION IS TO PROVIDE QUALITY UNDERGRADUATE AND GRADUATE EDUCATION FOR MEN AND WOMEN TO ENABLE THEM TO INTEGRATE THEIR PROFESSIONAL AIMS WITH THE BROADER PURPOSES OF HUMAN LIFE. THE PROGRAMS, ACTIVITIES, AND ENCOUNTERS THAT MAKE UP STUDENT LIFE AT SAINT VINCENT COLLEGE ENCOURAGE THE INTELLECTUAL GIFTS, PROFESSIONAL APTITUDES AND PERSONAL ASPIRATIONS OF STUDENTS TO MATURE HARMONIOUSLY. 0 0 67220129 26149998 63209281 FOUNDED IN 1846, SAINT VINCENT COLLEGE IS A PRIVATE, CATHOLIC, BENEDICTINE LIBERAL ARTS COLLEGE LOCATED IN LATROBE, PENNSYLVANIA. OUR MISSION IS "TO PROVIDE QUALITY UNDERGRADUATE AND GRADUATE EDUCATION FOR MEN AND WOMEN TO ENABLE THEM TO INTEGRATE THEIR PROFESSIONAL AIMS WITH THE BROADER PURPOSES OF HUMAN LIFE."SAINT VINCENT COLLEGE'S APPROACH TO EDUCATION IS ROOTED IN A CORE CURRICULUM THAT PROVIDES ALL STUDENTS WITH A BROAD-BASED EDUCATION. THE CORE CURRICULUM IS FOUNDED IN THE HUMANITIES, SOCIAL SCIENCES, NATURAL SCIENCES AND MATHEMATICS. EACH OF OUR PROGRAMS OF STUDY INCORPORATES AN INTERDISCIPLINARY VIEW OF KNOWLEDGE AND EMPHASIZES THE SKILLS TO INCREASE A STUDENT'S GENERAL BODY OF KNOWLEDGE THROUGHOUT THEIR LIVES.IN ADDITION TO ITS ROLE AS A KEY EDUCATIONAL PROVIDER, SAINT VINCENT SERVES AS AN ECONOMIC, ENVIRONMENTAL AND CULTURAL RESOURCE FOR THE LOCAL AREA. APPROXIMATELY 40% OF ALL GRADUATES FROM THE COLLEGE RESIDE IN ALLEGHENY AND WESTMORELAND COUNTIES, HELPING TO CONTRIBUTE TO THE REGION'S ECONOMIC GROWTH. THE COLLEGE'S ACADEMIC AND OUTREACH PROGRAMS ALSO HAVE HAD AN INSTRUMENTAL ROLE IN FOSTERING BUSINESS DEVELOPMENT, PROMOTING CULTURAL ENRICHMENT AND ADDRESSING REGIONAL ENVIRONMENTAL AND HEALTHCARE ISSUES.SAINT VINCENT COLLEGE SEMINARY IS A CENTER FOR THE SPIRITUAL FORMATION, HUMAN DEVELOPMENT AND ACADEMIC AND PASTORAL PREPARATION OF CANDIDATES FOR THE PRIESTHOOD. THE SEMINARY ALSO PROVIDES PROGRAMS FOR PERMANENT DIACONATE CANDIDATES AND OFFERS DEGREE PROGRAMS TO QUALIFIED MEN AND WOMEN SEEKING A THEOLOGICAL EDUCATION. 67220129 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 202 36 1 1565 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 44 44 1 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 PA X BUSINESS OFFICE 7245399761 ST VINCENT COLLEGE LATROBE PA 15650 MS MARIANNE REID ANDERSON DIRECTOR 2.00 0.00 X 0 0 0 REV THOMAS ACKLIN OSB DIRECTOR 2.00 0.00 X 0 0 0 MS JUDITH L BACCHUS DIRECTOR 2.00 0.00 X 0 0 0 ATTY JOSEPH C BARTOLACCI DIRECTOR 4.00 0.00 X 0 0 0 REV BRIAN BOOSEL OSB DIRECTOR 2.00 0.00 X 0 0 0 MS LINDA MCKENNA BOXX DIRECTOR 2.00 0.00 X 0 0 0 MOST REV LAWRENCE E BRANDT DIRECTOR 2.00 0.00 X 0 0 0 BR DAVID CARLSON OSB DIRECTOR 2.00 0.00 X 0 0 0 REV THOMAS CURRY OSB DIRECTOR 2.00 0.00 X 0 0 0 MR RICHARD A DICLAUDIO DIRECTOR 2.00 0.00 X 0 0 0 MR J CHRISTOPHER DONAHUE CHAIRMAN 6.00 0.00 X X 0 0 0 MR DAVID A DZOMBAK PHD DIRECTOR 2.00 0.00 X 0 0 0 MR JOHN M ELLIOTT ESQ DIRECTOR 2.00 0.00 X 0 0 0 REV MARIO FULGENZI OSB DIRECTOR 2.00 0.00 X 0 0 0 DR THOMAS P GESSNER MD DIRECTOR 4.00 0.00 X 0 0 0 MR PAUL P GIUNTO DIRECTOR 2.00 0.00 X 0 0 0 MOST REV ROGER W GRIES OSB DIRECTOR 2.00 0.00 X 0 0 0 MR DONALD A HAILE DIRECTOR 4.00 0.00 X 0 0 0 VERY REV EARL HENRY OSB DIRECTOR 2.00 0.00 X 0 0 0 BRO NORMAN HIPPS OSB PRESIDENT 40.00 0.00 X X 0 0 0 REV VERNON A HOLTZ OSB DIRECTOR 2.00 0.00 X 0 0 0 MR MICHAEL KESLAR DIRECTOR 2.00 0.00 X 0 0 0 REV MATTHEW THOMAS LAFFEY OSB DIRECTOR 2.00 0.00 X 0 0 0 HON MAUREEN LALLY-GREEN ESQ DIRECTOR 2.00 0.00 X 0 0 0 MR RALPH LIBERATORE DIRECTOR 2.00 0.00 X 0 0 0 DR JAMES V MAHER DIRECTOR 2.00 0.00 X 0 0 0 REV EDWARD MAZICH OSB DIRECTOR 2.00 0.00 X 0 0 0 MR CHARLES J MCINTYRE DIRECTOR 2.00 0.00 X 0 0 0 DR DONALD L MILLER DIRECTOR 2.00 0.00 X 0 0 0 MR JAMES L MURDY DIRECTOR 2.00 0.00 X 0 0 0 REV WARREN MURRMAN OSB SECRETARY 2.00 0.00 X X 0 0 0 RT REV DOUGLAS R NOWICKI VICE CHAIRMAN/CHANCELLOR 8.00 0.00 X X 0 0 0 ATTY JOSEPH W O'TOOLE DIRECTOR 2.00 0.00 X 0 0 0 MR CHARLES J QUEENAN JR ESQ DIRECTOR 2.00 0.00 X 0 0 0 MR ARTHUR J ROONEY II DIRECTOR 2.00 0.00 X 0 0 0 MR MARK ROSSI DIRECTOR 4.00 0.00 X 0 0 0 MR TIMOTHY P RYAN ESQ DIRECTOR 4.00 0.00 X 0 0 0 MR HANS SACK DIRECTOR 2.00 0.00 X 0 0 0 DR KIRON SKINNER PHD DIRECTOR 2.00 0.00 X 0 0 0 REV RALPH TAJAK OSB DIRECTOR 2.00 0.00 X 0 0 0 MR RICHARD J TROIANO DIRECTOR 2.00 0.00 X 0 0 0 REV RICHARD ULUM OSB DIRECTOR 2.00 0.00 X 0 0 0 MR JAMES F WILL DIRECTOR 2.00 0.00 X 0 0 0 REV FRANK ZIEMKIEWICZ OSB DIRECTOR 2.00 0.00 X 0 0 0 MRS GINA M NALEVANKO ASSISTANT TREASURER 36.00 4.00 X 95245 0 16773 REV TIMOTHY WHALEN RECTOR 40.00 0.00 X 55737 0 36343 R RICHARD S WILLIAMS TREASURER/VP FINANCE 32.00 8.00 X 151325 0 32374 MR JOHN J SMETANKA VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 129581 0 35060 MR GARY QUINLIVAN DEAN - MCKENNA SCHOOL 40.00 0.00 X 132477 0 32022 MR BRUCE A ANTKOWIAK LEGAL COUNSEL/DIR OF CRIMI 20.00 20.00 X 127779 0 34614 MS RITA A CATALANO EXECUTIVE DIRECTOR - FRED 40.00 0.00 X 137866 0 30888 MR STEPHEN M JODIS DEAN - BOYER SCHOOL 40.00 0.00 X 123192 0 34440 953202 0 252514 18 0 1 0 BUCHANAN & INGERSOLL ROONEY ONE OXFORD CENTRE 301 GRANT STREET PITTSBURGH PA 15219 LEGAL 116795 1 131806 843635 2308104 5506745 225890 8790290 TUITION AND FEES 611600 50166603 50166603 RESIDENCE HALL REVENUE 611600 6517216 6517216 DINING SERVICE REVENUE 611600 5708013 5708013 BOOKSTORE REVENUE 611600 737365 737365 OTHER AUXILIARY SERVICES 611600 80084 80084 63209281 1808749 1808749 2400 2400 688935 505004 183931 183931 47180 136751 13635260 9516765 4118495 4118495 4118495 33310 131806 37019 -3709 -3709 CENTER FOR EXCELLENCE 900099 583458 583458 PITTSBURGH STEELERS 721000 473726 473726 FEES FOR SERVICE INCOME 900099 289350 289350 403262 20292 382970 1749796 79859233 63209281 1124656 6735006 26149998 26149998 392913 326248 63625 3040 19887454 16513176 3220432 153846 990075 822090 160326 7659 5190007 4309425 840433 40149 1398160 1160936 226408 10816 37488 31128 6070 290 81985 68075 13276 634 38320 31817 6205 298 261547 261547 1212366 1006666 196322 9378 424459 352442 68734 3283 1661745 1379799 269091 12855 344960 286431 55860 2669 2455270 2038687 397589 18994 1221680 1014399 197830 9451 1352157 1122738 218959 10460 3799307 3154683 615233 29391 535288 444466 86681 4141 FOOD SERVICE 4673688 3880709 756824 36155 SUPPLIES AND EQUIPMENT 1556893 1292737 252112 12044 STUDENT LABOR 1332966 1106803 215851 10312 PURCHASES 494485 410587 80073 3825 491431 316089 167350 7992 75984642 67220129 8376831 387682 253032 443128 2150495 1523080 6618145 4635318 1950789 1851354 2573506 2087863 318992 387412 408783 419559 164765734 67800622 99101033 96965112 93032865 107423540 326187 308677 819527 1294175 207553354 217339218 4953312 5466132 29194457 27838508 5000000 4784985 3257987 3418360 42405756 41507985 X 33967041 37458282 79875081 83788555 51305476 54584396 165147598 175831233 207553354 217339218 3874591 6809044 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 24 0 0 1 8353 0 1 29943 38320 0 PART II-B, LINE 1: SAINT VINCENT COLLEGE CONTRACTS WITH BUCHANAN INGERSOLL & ROONEY PC TO SUPPORT THE FOLLOWING GOVERNMENT RELATIONS ACTIVITIES: - CREATING AND MAINTAINING RELATIONSHIPS WITH ELECTED OFFICIALS TO INFORM THEM OF THE CURRENT EDUCATIONAL PROGRAMS AND STRATEGIC INITIATIVES OF THE COLLEGE - IDENTIFYING GOVERNMENT GRANT PROGRAMS THAT ALIGN WITH THE FUNDING NEEDS OF THE COLLEGE - PROVIDING GUIDANCE AND SUPPORT FOR THE SUBMISSION OF GOVERNMENT GRANT APPLICATIONS - REQUESTING SUPPORT FROM ELECTED OFFICIALS FOR THE COLLEGE'S FUNDING REQUESTS - IDENTIFYING LEGISLATIVE ISSUES THAT IMPACT THE COLLEGE - FACILITATING MEETINGS FOR COLLEGE REPRESENTATIVES WITH ELECTED OFFICIALS X X 0 78366120 3497135 11955226 1763422 2297021 89758038 71337060 2297786 8145956 1763422 1651260 78366120 71348256 2697412 340864 1564181 1485291 71337060 60013481 1839969 12460696 1516926 1448964 71348256 53950078 1771201 6904685 1334979 1277504 60013481 0.19670 0.57800 0.22530 0 0 4950 4950 115741103 33563435 82177668 17488551 8044112 9444439 23052704 20167545 2885159 8478426 6025530 2452896 96965112 ANNUITIES PAYABLE 931388 STUDENT DEPOSITS 986972 NOTE PAYABLE, RELATED PARTY 1500000 3418360 X 60798755 6809044 -26149998 -19340954 80139709 261547 -542023 -280476 79859233 50115120 542023 542023 49573097 26411545 26411545 75984642 PART III, LINE 1A: THE COLLEGE HAS AN ARTWORK COLLECTION AND COVERLETS THAT ARE NOT REPORTED IN THE COLLEGE'S BALANCE SHEET OR STATEMENT OF ACTIVITIES. THE ARTWORK COLLECTION AND COVERLETS SERVE AS EDUCATIONAL, HISTORICAL AND CULTURAL TREASURES AND SUPPORT THE EXEMPT STATUS OF ST. VINCENT COLLEGE. PART V, LINE 4: ENDOWMENT FUNDS ARE TO BE USED FOR SCHOLARSHIPS, FACULTY DEVELOPMENT AND SALARIES, STUDENT RESEARCH, EDUCATIONAL PROGRAMS AND GENERAL SUPPORT OF OPERATIONS. PART X, LINE 2: THE CORPORATION ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD AT JUNE 30, 2014 AND 2013. THE CORPORATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY THE IRS FOR THE YEARS SUBSEQUENT TO JUNE 30, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT AID -26,149,998. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -371,703. SPECIAL EVENTS EXPENSE -37,019. UBIT RENTAL EXPENSE -133,301. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 371,703. SPECIAL EVENTS EXPENSE 37,019. UBIT RENTAL EXPENSE 133,301. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 26,149,998. INVESTMENT MANAGEMENT FEE 261,547. SCHEDULE D, PART II THE COLLEGE RENTS LAND FROM ST. VINCENT ARCHABBEY. THE LAND HAS A STREAM WHICH IS A 50 FT WIDE CONSERVATION EASEMENT THE LENGTH OF THE STREAM. THE EASEMENT IS HELD BY ST. VINCENT ARCHABBEY. 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 CORPORATION'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED DURING THE RECRUITING AND ADMISSIONS PROCESS. SCHEDULE E, PART I, LINE 6 SAINT VINCENT COLLEGE RECEIVES THE FOLLOWING ASSISTANCE FROM GOVERNMENTAL AGENCIES: PENNSYLVANIA INSTITUTIONAL GRANT, NATIONAL SCIENCE FOUNDATION, US SMALL BUSINESS ADMINISTRATION, PA DEPT OF ENVIRONMENTAL PROTECTION, PA COUNCIL ON THE ARTS, PA HIGHER EDUCATION ASSISTANCE AGENCY, PA DEPT OF HEALTH, PA DEPT OF PUBLIC WELFARE, PA DEPT OF COMMUNITY AND ECONOMIC DEVELOPMENT, US DEPT OF HEALTH AND HUMAN SERVICES, US DEPARTMENT OF EDUCATION, PA DEPT OF EDUCATION, PA LIQUOR CONTROL BOARD, OFFICE OF SURFACE MINING, RECLAMATION AND ENFORCEMENT, AND FINANCIAL AID TITLE IV FUNDS. BEARCAT OPEN 74600 66675 7925 500 9184 10182 THEATRE GALA 52400 37390 15010 3500 2 38116 27741 10375 13128 525 165116 131806 33310 500 25812 10707 37019 -3709 1 SCHOLARSHIPS - SEOG 266 221296 FAIR MARKET VALUE SCHOLARSHIPS - STUDENT AID 1525 23420684 FAIR MARKET VALUE SCHOLARSHIPS - ENDOWMENT 661 1914501 FAIR MARKET VALUE SCHOLARSHIPS - GRANTS 209 593517 FAIR MARKET VALUE PART I, LINE 2: THE COLLEGE MONITORS THE USE OF GRANT FUNDS THROUGH A SHARED APPROACH BY THE FINANCIAL AID DEPARTMENT AND THE BUSINESS OFFICE. ALL BUDGETED TO ACTUAL GRANT ACTIVITY IS MONITORED ON A MONTHLY BASIS AND THE FINANCIAL AID FOR EACH STUDENT IS APPROVED PRIOR TO DISBURSING FUNDS. GRANT REPORTING AND COMPLIANCE ARE MONITORED BY THE BOTH THE FINANCIAL AID DEPARTMENT AND THE BUSINESS OFFICE TO ENSURE ACCURACY. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 R RICHARD S WILLIAMS TREASURER/VP FINANCE 132048 0 0 0 19277 0 11391 0 20983 0 183699 0 0 0 MR JOHN J SMETANKA VP FOR ACADEMIC AFFAIRS 129581 0 0 0 0 0 9872 0 25188 0 164641 0 0 0 MR GARY QUINLIVAN DEAN - MCKENNA SCHOOL 132477 0 0 0 0 0 8771 0 23251 0 164499 0 0 0 MR BRUCE A ANTKOWIAK LEGAL COUNSEL/DIR OF CRIMI 127779 0 0 0 0 0 9461 0 25153 0 162393 0 0 0 MS RITA A CATALANO EXECUTIVE DIRECTOR - FRED 137866 0 0 0 0 0 9709 0 21179 0 168754 0 0 0 MR STEPHEN M JODIS DEAN - BOYER SCHOOL 123192 0 0 0 0 0 9378 0 25062 0 157632 0 0 0 PART I, LINE 1A PAID COUNTRY CLUB DUES FOR PRESIDENT FOR BUSINESS USE IN FUNDRAISING EFFORTS. COLLEGE CONTRACTED WITH THE VP OF FINANCE TO REIMBURSE 50% OF INCURRED RELOCATION EXPENSES NOT TO EXCEED $25,000 INCLUDING GROSS UP ON TAXABLE ITEMS. THE COLLEGE DOES NOT HAVE A FORMAL WRITTEN POLICY REGARDING RELOCATION. ANY RELOCATION EXPENSES ARE CONTRACTUALLY NEGOTIATED ON AN INDIVIDUAL BASIS. A UPPER YODER TOWNSHIP AUTHORITY 256010921 2005-11-21 6220000 ADDITIONS TO TWO DORMITORIES AND OTHER COSTS 0 0 0 B LATROBE INDUSTRIAL DEVELOPMENT AUTHORITY 251763674 2011-12-20 13026000 REFUNDING 0 0 0 C LATROBE INDUSTIAL DEVELOPMENT AUTHORITY 251763674 518331BR3 2013-04-01 11529540 REFUNDING/CAPITAL PROJECTS 0 0 0 A 6220000 31058 58500 6161500 2006 0 0 1 1 B 12943650 13026000 82350 2011 1 0 1 1 C 9750000 11529540 2388050 2666263 219701 1838052 2016 1 0 1 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 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 SCHEDULE K, PART III, LINE 9; PART IV, LINE 7 AND PART V: THE COLLEGE IS IN THE PROCESS OF ESTABLISHING A WRITTEN POLICY FOR BOND COMPLIANCE TO BE IN EFFECT FOR FISCAL YEAR ENDING JUNE 30, 2015. MR ARTHUR J ROONEY II MEMBER OF THE BOARD AND CO-OWNER OF PITTSBURGH STEELERS 682939 CHARGES RELATED TO STEELERS TRAINING CAMP, SHAREHOLDERS MEETING, STEELERS FAMILY NIGHT AND STEELERS FANTASY CAMP. 0 X 7 225890 FAIR MARKET VALUE 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ARE BASED ON THE NUMBER OF CONTRIBUTORS OF PUBLIC STOCK. PART I, LINE 32B: MORGAN STANLEY IS USED TO FACILITATE THE SALE OF ALL SECURITIES. FORM 990, PART VI, SECTION A, LINE 2 RT. REV. DOUGLAS R. NOWICKI, VICE CHAIRMAN/CHANCELLOR IS THE ABBOT OF THE BENEDICTINE SOCIETY OF WESTMORELAND COUNTY (RELATED ENTITY) AND HAS ENGAGED MATTHEWS INTERNATIONAL FOR CONSTRUCTION OF A MAUSOLEUM OF WHICH ATTY. JOSEPH C. BARTOLACCI IS THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION A, LINE 7A GOVERNANCE OF THE CORPORATION IS ENTRUSTED TO THE MEMBERS OF THE CORPORATION AND THE BOARD OF DIRECTORS. THERE ARE SEVEN MEMBERS OF THE CORPORATION, AND THEY ARE A SELF-PERPETUATING GOVERNING BODY. THE MEMBERS OF THE CORPORATION MUST BE MEMBERS OF THE BENEDICTINE SOCIETY - SAINT VINCENT ARCHABBEY. THE MEMBERS ARE THE LEGAL GOVERNING BODY OF THE CORPORATION BUT HAVE DELEGATED TO THE CORPORATION'S BOARD OF DIRECTORS RESPONSIBILITY FOR MOST ACADEMIC AND OPERATIONAL MATTERS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CORPORATION ARE REQUIRED TO APPROVE DEBT, NEW CONSTRUCTION AND MAJOR CHANGES IN MISSION. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD DELEGATED THE COMPLETE REVIEW OF THE FORM 990 WITH ALL REQUIRED SCHEDULES TO THE FINANCE COMMITTEE AND TO THE CHAIRMAN OF THE BOARD. FORM 990 WAS PRESENTED AT THE MARCH 2015 MEETING TO ALL FINANCE COMMITTEE MEMBERS WITH AN INDEPENDENT REVIEW BY THE CHAIRMAN. THE REMAINING BOARD MEMBERS ARE PROVIDED A COPY OF THE FORM 990 EXCLUDING SCHEDULE B. FORM 990, PART VI, SECTION B, LINE 12C ALL NEW BOARD MEMBERS UNDERGO A VETTING PROCESS BY A BOARD COMMITTEE TO ASCERTAIN IF ANY POTENTIAL CONFLICT OF INTEREST EXISTS BETWEEN THE MEMBER AND THE COLLEGE CORPORATION. BOARD MEMBERS ARE REVIEWED ON AN ANNUAL BASIS TO ENSURE THAT THEY ARE ADHERING TO OUR CONFLICT OF INTEREST POLICY. ADDITIONALLY, MANAGEMENT REGULARLY AND CONSISTENTLY REVIEWS ALL SIGNIFICANT BUSINESS CONTRACTS TO DETERMINE THAT WE ARE COMPLIANT WITH OUR CONFLICT OF INTEREST POLICY. QUESTIONARES ARE SENT OUT FROM THE PRESIDENTS OFFICE ON AN ANNUAL BASIS TO ALL OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES AND LEGAL COUNSEL REVIEWS. FORM 990, PART VI, SECTION B, LINE 15A THE ARTICLES OF INCORPORATION PROVIDE FOR AN EXECUTIVE COMPENSATION COMMITTEE TO RECOMMEND TO THE BOARD OBJECTIVES FOR THE PRESIDENT OF THE COLLEGE AND OTHER KEY EMPLOYEES AND RECOMMEND POLICIES, STRATEGIES AND PAY LEVELS NECESSARY TO SUPPORT THE COLLEGE'S OBJECTIVES. THE COMMITTEE COMPILES COMPARATIVE DATA FROM OTHER COLLEGES OF SIMILAR SIZE (CHRONICLE OF HIGHER ED, IPEDS). THE COMMITTEE MAY ALSO, IF APPROPRIATE, SELECT INDEPENDENT COMPENSATION CONSULTANTS TO ADVISE THE COMMITTEE. HR DIRECTOR KEEPS A FILE WITH MINUTES OF MEETINGS AND WORKSHEET USED TO ANALYZE COMPENSATION DATA. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 2C: THE TREASURER, ASSISTANT TREASURER AND CONTROLLER WORK WITH THE FINANCE & AUDIT COMMITTEE CHAIR TO SELECT AND ENGAGE OUR INDEPENDENT AUDITORS SUBJECT TO COMMITTEE APPROVAL. THE RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT FIELD RESTS WITH MANAGEMENT. THE CHAIR OF THE FINANCE AND AUDIT COMMITTEE IS KEPT CURRENT WITH THE AUDIT AS IT PROGRESSES BY BOTH MANAGEMENT AND THE INDEPENDENT ACCOUNTANTS. THE INDEPENDENT ACCOUNTANTS ALSO PRESENT THE ANNUAL FINANCIAL RESULTS TO THE FINANCE AND AUDIT COMMITTEE FOR DISCUSSION AND APPROVAL. FORM 990, PART VII, SECTION A: THE FOLLOWING BENEDICTINE MONKS ARE COMPENSATED EMPLOYEES BUT DO NOT RECEIVE A W-2, AS ALL COMPENSATION EARNED IS TRANSFERRED DIRECTLY TO THE SAINT VINCENT ARCHABBEY: BROTHER NORMAN HIPPS, O.S.B. ($273,177) REV. WARREN MURRMAN, O.S.B. ($40,600) REV. EDWARD MAZICH, O.S.B. ($64,668) RT. REV. DOUGLAS R. NOWICKI, O.S.B. ($31,185) REV. THOMAS ACKLIN, O.S.B. ($23,396) BROTHER DAVID CARLSON, O.S.B. ($87,699) REV. VERNON A. HOLTZ, O.S.B. ($11,640) REV. RALPH TAJAK, O.S.B. ($28,650) THE BENEDICTINE SOCIETY OF WESTMORELAND COUNTY 300 FRASER PURCHASE ROAD LATROBE PA 15650 250964126 TO SUPPORT SAINT VINCENT COLLEGE, SEMINARY AND ARCHABBEY PA 501(C)(3) 509(A)(1) N/A 0 0 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0