2015-05-13T14:27:10-05:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2013-07-01 231365966 ROSEMONT COLLEGE ROSE 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 RANDY ELDRIDGE VP FINANCE & ADMINISTRATION 6105270200 2015-05-11 1 JULIUS C GREEN CPA JD P00350393 2159720701 2013 2016-02-25 16:41:14Z RANDY ELDRIDGE 1400 MONTGOMERY AVENUE ROSEMONT PA 190101699 33356077 0 X WWW.ROSEMONT.EDU X 1921 PA ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE & JOY IN PURSUIT OF KNOWLEDGE. 28 27 576 30 0 0 3549475 3373938 21715499 21955097 994272 1684909 333544 262682 26592790 27276626 7487783 8218252 0 0 9950781 10105043 64932 73206 652737 7440578 7574181 24944074 25970682 1648716 1305944 40452616 44435811 11267974 13792404 29184642 30643407 X ROSEMONT COLLEGE IS A COMMUNITY OF LEARNERS DEDICATED TO EXCELLENCE AND JOY IN THE PURSUIT OF KNOWLEDGE. ROSEMONT COLLEGE SEEKS TO DEVELOP IN ALL MEMBERS OF THE COMMUNITY OPEN AND CRITICAL MINDS, AS WELL AS THE ABILITY TO MAKE REASONED MORAL DECISIONS. ROOTED IN CATHOLICISM, AND GUIDED BY THE EDUCATIONAL PRINCIPLES OF CORNELIA CONNELLY AND THE SOCIETY OF THE HOLY CHILD JESUS, ROSEMONT COLLEGE VALUES: TRUST IN AND REVERENCE FOR THE DIGNITY OF EACH PERSON, DIVERSITY IN HUMAN CULTURE AND EXPERIENCE, AND PERSISTENCE AND COURAGE IN PROMOTING JUSTICE WITH COMPASSION. 0 0 18180347 7925035 21955097 ROSEMONT COLLEGE WAS FOUNDED IN 1921 AND IS LOCATED IN SUBURBANPHILADELPHIA. TOTAL STUDENT ENROLLMENT IS 1,119 WITH A STUDENT-TEACHER RATIO OF 10:1 AND AN AVERAGE CLASS SIZE OF 12. THERE ARE THREE SCHOOLS: THE UNDERGRADUATE COLLEGE, THE SCHOOL OF GRADUATE STUDIES, AND THE SCHOOL OF PROFESSIONAL STUDIES. THE UNDERGRADUATE COLLEGE OFFERS A NUMBER OF MAJORS AND ACADEMIC PROGRAMS AWARDING BACHELOR OF ARTS, BACHELOR OF FINE ARTS, AND BACHELOR OF SCIENCE DEGREES. EACH PROGRAM OFFERS AN IN-DEPTH STUDY OF A PARTICULAR SUBJECT AREA AS WELL AS A BREADTH OF STUDY IN THE LIBERAL ARTS. THE SCHOOL OF GRADUATE STUDIES OFFERS GRADUATE PROGRAMS THAT AWARD THE MASTER OF BUSINESS ADMINISTRATION, MASTER OF SCIENCE IN MANAGEMENT, MASTER OF ARTS, MASTER OF FINE ARTS, AND THE MASTER OF EDUCATION DEGREES. THE SCHOOL OF PROFESSIONAL STUDIES OFFERS ACCELERATED DEGREE PROGRAMS, CERTIFICATES, AND CORPORATE TRAINING. THE ACADEMIC FOCUS OF THE ACCELERATED DEGREE PROGRAMS IS ON RELEVANT AND PRACTICAL KNOWLEDGE AND TECHNIQUES. SMALL CLASS SIZE AND A SEMINAR ATMOSPHERE COMPLEMENT THE LEARNING EXPERIENCE.GENERAL EDUCATION SCHOLARSHIPS AND FEDERAL AND STATE GRANTS AND SCHOLARSHIPS ARE AWARDED TO STUDENTS. THE COLLEGE PROVIDED STUDENT FINANCIAL AID FROM INTERNAL RESOURCES OF APPROXIMATELY $7,900,000. 18180347 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 27 0 1 576 1 0 0 0 0 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X RANDY ELDRIDGE 6105270200 1400 MONTGOMERY AVENUE ROSEMONT PA 19010 RICHARD GESCHKE ESQ CHAIR 5.00 X X 0 0 0 DAVID J LOGAN VICE CHAIR 1.00 X X 0 0 0 SHARON CLARK SECRETARY 1.00 X X 0 0 0 PATRICIA PHILLIPS SHCJ TREASURER 1.00 X X 0 0 0 SHARON LATCHAW HIRSH PHD PRESIDENT 50.00 X X 236578 0 19855 MARY ANN BUCKLEY SHCJ TRUSTEE 1.00 X 0 0 0 CATHIE COLEMAN-DICKSON TRUSTEE 1.00 X 0 0 0 GERARD P CUDDY TRUSTEE 1.00 X 0 0 0 CHARLES J CURRIE SJ TRUSTEE 1.00 X 0 0 0 MARGARET DOYLE SHCJ TRUSTEE 1.00 X 0 0 0 MARIA A FEELEY ESQ TRUSTEE 1.00 X 0 0 0 STEPHEN P FERA TRUSTEE 1.00 X 0 0 0 SEAN H FITZPATRICK TRUSTEE 1.00 X 0 0 0 JOHN GILLEN TRUSTEE 1.00 X 0 0 0 WILLIAM J GREEN TRUSTEE 1.00 X 0 0 0 SANDRA LINCOLN SHCJ PHD TRUSTEE 1.00 X 0 0 0 CLARE F MACKIE TRUSTEE 1.00 X 0 0 0 ANN MARSHALL TRUSTEE 1.00 X 0 0 0 ROBERT J MASSA ED D TRUSTEE 1.00 X 0 0 0 EILEEN MCDEVITT SHCJ TRUSTEE 1.00 X 0 0 0 MARIANNE MCGONIGLE TRUSTEE 1.00 X 0 0 0 MARK NICOLETTI TRUSTEE 1.00 X 0 0 0 PATRICIA A PILIA PHD TRUSTEE 1.00 X 0 0 0 MARGO B POLETT TRUSTEE 1.00 X 0 0 0 SCOTT R REIDENBACH ESQ TRUSTEE 1.00 X 0 0 0 RONALD R REMICK PHD MBA TRUSTEE 1.00 X 0 0 0 KATHLEEN M ROTONDARO TRUSTEE 1.00 X 0 0 0 JUDITH WILKINSON TRUSTEE 1.00 X 0 0 0 VERONICA AHERN ESQ HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 MARION L DAILEY HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 ELIZABETH FITZMAURICE SHCJ HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 MARGARET SACHS HEALEY HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 PAULINE M MCSHAIN SHCJ HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 MARGARET MARY SHERRY HONORARY TRUSTEE (NON-VOTING) 1.00 X 0 0 0 RANDY L ELDRIDGE DBA CPA CFO 50.00 X 101916 0 13315 KEVIN MCINTYRE VP ENROLLMENT MANAGEMENT/ADMISSIONS 40.00 X 119841 0 15300 B CHRISTOPHER DOUGHERTY PHD PROVOST/VP ACADEMIC AFFAIRS 40.00 X 115617 0 25740 CHRISTYN MORAN VP COLLEGE RELATIONS 40.00 X 88224 0 24733 662176 0 98943 4 0 1 0 DALE CORPORATION 70 LIMEKILN PIKE GLENSIDE PA 19038 CONSTRUCTION 1184651 PARKHURST DINING SERVICES 285 E WATERFRONT DRIVE HOMESTEAD PA 15120 FOOD SERVICE 856274 ARAMARK MANAGEMENT SERVICE LP 1101 MARKET STREET PHILADELPHIA PA 19107 FACILITIES MANAGEMENT 392556 KIMMEL BROGRETT ACRHITECTURE 151 E 10TH AVENUE PHILADELPHIA PA 19153 ARCHITECTURE 203122 BAKER TILLY VIRCHOW & KRAUSE LLP 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 18701 ACCOUNTING SERVICES 133630 6 188996 3184942 28046 3373938 STUDENT TUITION AND FEES 611710 18136387 18136387 ROOM AND BOARD-STUDENTS 721310 3814138 3814138 COMMUTER/STAFF MEAL PLANS 722100 4572 4572 21955097 317093 317093 196341 167006 29335 29335 29335 7280261 5912445 1367816 1367816 1367816 COLLECTIONS 900099 80648 80648 JAPANESE STUDENTS PROJECT 900099 66100 66100 BOOKSTORE, LAUNDRY & VENDING COMM 722210 22569 22569 64030 64030 233347 27276626 21955097 0 1947591 8218252 8218252 745248 265010 480238 7159988 4883680 1869503 406805 402843 263677 118209 20957 1195040 807797 320618 66625 601924 393983 176627 31314 81957 81957 163369 163369 73206 73206 64444 64444 895205 349200 546005 360157 360157 881392 223905 645537 11950 887160 120225 766935 855298 134341 720957 84702 64572 10400 9730 52371 5456 14978 31937 282943 282884 59 839095 839095 237747 237747 FOOD SERVICE 978269 978269 BAD DEBT 307670 307670 OTHER PROGRAM COSTS 207599 118209 89177 213 ATHLETICS 112448 112448 282355 119344 163011 25970682 18180347 7137598 652737 29503 3253375 3273979 4553675 2487967 1189272 1485950 442981 476636 377459 245882 41918236 22412641 13911884 19505595 15243302 15477600 1451165 1482202 40452616 44435811 1067040 2137096 999079 456169 7400000 8136895 1170884 2445885 630971 616359 11267974 13792404 X 7858219 7615797 7355672 9835676 13970751 13191934 29184642 30643407 40452616 44435811 X 1305944 966955 -814134 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15004696 105151 2480829 724709 16865967 13600416 15678 1993452 604850 15004696 12868455 1927806 -276932 742465 176448 13600416 12598732 269723 2082678 899492 1183186 12868455 11523870 1107571 1095385 430162 697932 12598732 0.16000 0.84000 0 0 352332 352332 34532138 15687402 18844736 6637643 6329116 308527 396123 396123 0 19505595 REFUNDABLE ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 552127 LEASES PAYABLE 64232 616359 X 20146004 966955 -8200139 -7233184 27379188 64444 -167006 -102562 27276626 18687239 167006 167006 18520233 64444 7386005 7450449 25970682 PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUND CONSISTS OF APPROXIMATELY 60 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. IT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING 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. THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2014 OR 2013. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2013, 2012, AND 2011 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE -7,386,005. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 40,866. LOSS ON CONTRIBUTIONS RECEIVABLE -855,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -167,006. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 167,006. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE 7,386,005. 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 RACIALLY NON-DISCRIMINATORY POLICY IS CLEARLY STATED IN ROSEMONT COLLEGE'S PUBLICATIONS AS WELL AS THEIR COURSE CATALOG AND REGISTRATION MATERIAL. SCHEDULE E, PART I, LINE 6 ROSEMONT RECEIVES A VARIETY OF FEDERAL AND STATE GRANTS, RELATED TO STUDENT AID OR PROGRAM SUBSISTENCE. X X X X X X 1 PACESETTERS INC 759 ROBLE ROAD ALLENTOWN PA 18109 MANAGEMENT OF MAIL/EMAIL AND EXPERIENCE FUND SOLICITATIONS 0 998428 70861 927567 998428 70861 927567 PA 1 FINANCIAL ASSISTANCE & SCHOLARSHIPS 636 8218252 CASH N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPT. OF ED., THE AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 SHARON LATCHAW HIRSH PHD PRESIDENT 213578 0 0 0 23000 0 11080 0 8775 0 256433 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES A MONTHLY HOUSING ALLOWANCE AND IS REQUIRED TO RESIDE IN OR NEAR ROSEMONT, PA. THE ALLOWANCE IS INCLUDED IN THE PRESIDENT'S TAXABLE INCOME. PART I, LINE 3 THE EXECUTIVE COMMITTEE FULFILLS THE ROLE OF "COMPENSATION COMMITTEE" FOR REVIEW AND APPROVAL OF COMPENSATION. A EAST NORRITON TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY 2012-09-04 7400000 TO REFUND 2004 BONDS AND FUND CAPITAL EXPENDITURES 0 0 0 A 195912 7400000 147646 7252354 2012 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 0 A 0 SCHEDULE K, PART V, PROCEDURES TO UNDERTAKE CORRECTIVE ACTION: THE COLLEGE IS IN THE PROCESS OF FORMALIZING A WRITTEN POLICY REGARDING COMPLIANCE WITH BOND REQUIREMENTS. X 2 28046 CLOSING COST 0 1 1 PART I, COLUMN (B): NUMBER IN COLUMN B ABOVE REPRESENTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: STOCK DONATIONS ARE TRANSFERRED TO A STOCK DONATION ACCOUNT IN THE NAME OF THE COLLEGE. THE STOCKS ARE THEN SOLD AND THE PROCEEDS ARE TRANSFERRED TO THE COLLEGE'S CASH ACCOUNT. FORM 990, PART VI, SECTION B, LINE 11 THE INFORMATION PRESENTED IN THIS RETURN WAS PREPARED BY THE CONTROLLER AND REVIEWED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. BEFORE IT WAS FINALIZED, THE COMPLETE FORM 990 PUBLIC DISCLOSURE COPY WAS LOADED ONTO THE COLLEGE'S INTRANET FOR REVIEW BY THE PRESIDENT AND MEMBERS OF THE BOARD OF TRUSTEES. THE PRESIDENT AND MEMBERS OF THE BOARD WERE NOTIFIED BY EMAIL, DIRECTED TO THE WEBSITE, AND WERE ASKED TO LOOK OVER THE INFORMATION CAREFULLY. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO ANNUALLY DISCLOSE TO THE BOARD CHAIR ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST. FACULTY, ADMINISTRATION, AND STAFF ARE REQUIRED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST TO THEIR DEAN OR SUPERVISOR. VIOLATIONS OF THE POLICY ARE HANDLED IN ACCORDANCE WITH THE COLLEGE'S DOCUMENTED DISCIPLINARY PROCEDURES. THE PRESIDENT, PROVOST, AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION ARE JOINTLY RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 POSITIONS ARE CLASSIFIED AND PAID ACCORDING TO A UNIFORM INTERNALLY-MAINTAINED SCHEDULE. BECAUSE OF BUDGET CONSTRAINTS, MOST ARE PAID BELOW NATIONAL SALARY AVERAGES OF COMPARATIVE RELIGIOUS COLLEGES/UNIVERSITIES. ROSEMONT USES CUPA-HR DATA TO VALIDATE SALARY OFFERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 40,866. LOSS ON CONTRIBUTIONS RECEIVABLE -855,000.