2014-05-13T12:22:53-05:00 2013-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2012-07-01 231413680 SALUS UNIVERSITY % DONALD KATES VP FOR FINANCE SALU 2157801400 8360 OLD YORK ROAD Suite ELKINS PARK PA 19027 donald kates 2157801400 2014-05-12 true 2155614200 2012 2015-11-30 17:44:51Z DR Michael H Mittelman 8360 OLD YORK RD ELKINS PARK PA 19027 40117029 false X WWW.SALUS.EDU X 1919 PA TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. 22 19 632 22 0 0 4690672 4497240 30165842 32021495 466527 7485 1032956 2397393 36355997 38923613 886539 987823 0 0 23777324 23282511 17587 11740 151745 12456804 13118259 37138254 37400333 -782257 1523280 91000375 94516071 47152743 45798396 43847632 48717675 X THE MISSION OF SALUS UNIVERSITY IS TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. false false 16679990 987823 29122177 Salus University is a four year post graduate educational institution. The University programs lead to doctoral degrees in Optometry and Audiology and Masters degrees in Medical Science, Low Vision Rehabilitation and others. The University enrolls approximately 960 students. During the year over 320 students earned degrees. 6634575 2886449 THE UNIVERSITY OPERATES two CLINICAL TEACHING FACILITies FOR THE VARIOUS PROGRAMS. APPROXIMATELY 300 STUDENTS ARE TRAINED ANNUALLY. THE CLINICS PROVIDE EYECARE and ear care to approximately 45,000 PATIENTS A YEAR. 4512476 12869 The UNIVERSITY receives federal, state and private grants to support basic research, clinical research, specialized training and student financial aid. These amounts are expended pursuant to the grant agreement. 134000 Haffer Center Fees 134000 27827041 true true false true false false false false true true false true false true true false true true false true false true true false false false false true true true true false false false false false false false false false false false false false false true true true false false true 512 0 true 632 true false false false false false false false false false false X 22 19 false false false false false false false true true false false true true true true true true true true false PA X DONALD KATES VP FOR FINANCE 2157801240 8360 OLD YORK RD ELKINS PARK PA 19027 Dr Thomas L Lewis 33.0 7.0 X X 456960 0 33834 Jo Surpin 1.0 1.0 X 0 0 0 Dr Dan Abramowicz 1.0 X 0 0 0 Dr Barry J Farkas 1.0 1.0 X 0 0 0 Carl A Polsky 1.0 1.0 X 0 0 0 Dr I William Collins 1.0 1.0 X 0 0 0 Dr Mark Boas 1.0 1.0 X 14000 0 0 Dr Jean Pagani 1.0 X 95043 0 19402 Dr Craig Cassey 1.0 X 0 0 0 Dr Robert Cole 1.0 X 0 0 0 Mr Richard DePiano 1.0 X 0 0 0 Dr Christopher Dezzi 1.0 X 0 0 0 Dr David Dozack 1.0 X 0 0 0 Shirley Gregory 1.0 X 0 0 0 Keith D Ignotz 1.0 X 0 0 0 Leslie Littman 1.0 X 0 0 0 Joseph W Marshall III 1.0 X 0 0 0 Mindy M Posoff 1.0 X 0 0 0 Dr Elois G Rogers-Phillips 1.0 X 0 0 0 Jane Scaccetti 1.0 2.0 X 0 0 0 Dr Harvey Wolbransky 1.0 X 0 0 0 Michael H Mittelman 1.0 X X 0 0 0 Lynn Greenspan 1.0 X 81392 14681 Abby Brubaker 1.0 X 0 0 0 Donald Kates 35.0 1.0 X 157481 0 27045 Anthony DiStefano 35.0 X 221822 0 33841 Susan Oleszewski 35.0 X 169560 0 24885 Linda Casser 35.0 X 187242 0 25737 Victor Hugo Bray Jr 30.0 10.0 X 159795 0 22771 Lorraine Lombardi 35.0 X 159355 0 20958 Audrey Smith 35.0 X 194415 0 21392 Larry McClure 35.0 X 154032 0 26428 2051097 0 270974 44 false true false FOX ROTHSCHILD LLP 2000 MARKET STREET 20TH FLOOR PHILADELPHIA PA 19103 LEGAL 430684 Edward B O'reilly Associates 30 W Highland Ave PHILADELPHIA PA 19118 BUilding Contractor 263447 APPnet solutionscom LLC 5880 Oak terrace drive VIRGINIA BEACH VA 23464 Technology 165650 James J Clearkin 110 Franklin Ave CHELTENHAM PA 19012 Construction 1178279 Sharps Landscaping 7911 n radcliffe street BRISTOL PA 19007 landscaping 262912 6 4409510 87730 4497240 TUITION 900099 29122177 29122177 PATIENT CARE - NET 900099 2886449 2886449 EDUCATION SALES AND SERVICES 900099 12869 12869 32021495 7485 7485 0 0 1584653 991419 593234 0 593234 593234 0 0 0 223635 201997 21638 21638 MANAGEMENT FEE - FOUNDATION 900099 255000 255000 HAFTER CENTER FEES 900099 134000 134000 BOOKSTORE COMMISSION 900099 24825 24825 1368696 1368696 1782521 38923613 32155495 2270878 0 886399 886399 101424 101424 0 2102488 1480024 622464 0 16752346 13590311 3122132 39903 1569227 1259985 305469 3773 1600628 1285197 311582 3849 1257822 1009946 244851 3025 0 425358 22036 403322 141036 141036 22560 22560 11740 11740 0 0 0 749140 593650 151267 4223 0 0 860956 336849 524107 396700 364112 26637 5951 0 68393 62735 5264 394 0 0 1905448 1905448 394145 225368 168777 GRANT EXPENSE 4408581 4408581 EQUIPMENT RENTAL AND MAINTENAN 1084870 478762 592383 13725 PRINTING AND PUBLICATIONS 390258 348472 17495 24291 POSTAGE/SHIPPING 123599 55499 64622 3478 2147215 1317691 792131 37393 37400333 27827041 9421547 151745 0 0 9185160 8717711 0 0 1841975 1775136 0 0 0 0 14211166 14480072 92290 86732 247704 286983 61100199 28952654 31474448 32147545 30164 30663 0 0 32385010 35348178 0 0 1532458 1643051 91000375 94516071 2496380 1970684 0 0 6896072 7304383 9295000 8660000 0 0 0 0 1009260 764125 0 0 27456031 27099204 47152743 45798396 X 36927435 41412591 3071472 3330666 3848725 3974418 43847632 48717675 91000375 94516071 X 1523280 3346763 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 22560 22560 false false 18706833 171677 2259678 574177 20564011 19295567 40244 -261107 367871 18706833 15969601 71024 3812739 557797 19295567 14690431 71125 1807200 599155 15969601 18010487 386051 -3608680 97427 14690431 0.75000 0.18000 0.07000 false true true 2305370 2305370 42267582 28952654 13314928 16526347 0 16526347 900 900 32147545 INVESTMENT IN SUBSIDIARY 35348178 F 35348178 0 STUDENT LOANS 15117357 POST RETIREMENT BENEFITS 10000000 MISCELLANEOUS 1981847 27099204 X 43049563 2932534 2932534 40117029 -1193416 -1193416 38923613 38110360 1697850 1697850 36412510 987823 987823 37400333 Endowment Funds Form 990, Schedule D, Part V The endowment funds are held by Pennsylvania College of Optometry Foundation, a related tax-exempt organization. The Pennsylvania College of Optometry Foundation's endowment consists of a portfolio of actively managed funds established to provide both a source of operating funds as well as long-term financial stability. The endowment includes both donor restricted endowment funds and funds designated by the Board of Trustees to function as endowments or quasi endowments. Endowment funds may have purpose restrictions on use of the income. Income Taxes Form 990, Schedule D, Part X, Line 2 The University follows the accounting guidance for uncertainties in income tax positions, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The University does not believe its consolidated financial statements include any material uncertain tax positions. Reconciliation of Revenue Form 990, Schedule D, Part XI Line 2d: AU Clinic - PEI Income 503,192 Income (Loss) from Foundation 2,963,169 Scholarships (reclass to expense) (987,823) Change in Post Retirement Benefit Liability 453,996 ---------- Total Line 2d 2,932,534 ========== Line 4b: Rent Expense (reclass to revenue) (991,419) Cost of Sales of Contact Lens (reclass to revenue) (201,997) --------- Total Line 4b 1,193,416 Reconciliation of Expenses Form 990, Schedule D, Part XII Line 2d: AU Clinical PEI Expenses 504,434 Rent Expense (reclass to revenue) 991,419 Cost of Sale of Contact Lens (reclass to revenue) 201,997 --------- Total 1,697,850 Line 4b: Scholarships 987,823 true true true true true true true false false false false false false false false true false true Schedule E, Line 3 THE UNIVERSITY HAS A WRITTEN POLICY ESTABLISHING ITS NON-DISCRIMINATION POLICY. IT IS PUBLISHED IN THE STUDENT HANDBOOK AND ON THE APPLICATION FOR ADMISSIONS. Schedule E, Line 6b THE UNIVERSITY RECEIVES FUNDING FROM GOVERNMENTAL AGENCIES FOR STUDENT TUITION ASSISTANCE IN ACCORDANCE WITH PROGRAMS SUCH AS SDS- SCHOLARSHIPS FOR DISADVANTAGED STUDENTS. true East Asia and the Pacific 13 Program Services teaching 72457 Europe (Including Iceland and Greenland) 30 Program Services teaching 122823 43 43 195280 195280 SCHOLARSHIPS East Asia and the Pacific 1013 FMV Scholarships North America 24250 FMV Scholarships Sub-Saharan Africa 67813 FMV Scholarships South Asia 8350 FMV false false false false false false Part I, Line 3, Column C In some programs, Salus contracts with individual local professionals to provide service to the program. These professionals will assist in instruction, translation and administration. X X X X X X X true The Stockade Consulting Group 650 Franklin Suite 201 SCHENECTADY NY 12305 solicator false 42769 11740 42769 11740 8360 Old York Road Elkins Park PA 19027 true SCHOLARSHIPS 886399 GRANTS AND ASSISTANCE IN THE UNITED STATES FORM 990, SCHEDULE I, PART I, LINE 2 The University provides scholarships to students matriculating at the UniverYity; therefore, all funds granted are used to defray the cost of tuition and no further monitoring of the grants is required. X true true X X false false false false false false false false false Dr Thomas L Lewis 289960 0 150000 0 17000 0 23907 0 9927 490794 0 Donald Kates 157481 0 0 0 0 0 17118 0 9927 184526 0 Anthony DiStefano 221822 0 0 0 0 0 23914 0 9927 255663 0 Susan Oleszewski 169560 0 0 0 0 0 18276 0 6609 194445 0 Linda Casser 187242 0 0 0 0 0 19902 0 5835 212979 0 Victor Hugo Bray Jr 159795 0 0 0 0 0 16936 0 5835 182566 0 Lorraine Lombardi 159355 0 0 0 0 0 14349 0 6609 180313 0 Audrey Smith 194415 0 0 0 0 0 14783 0 6609 215807 0 Larry McClure 154032 0 0 0 0 0 16501 0 9927 180460 0 Compensation Information Form 990, Schedule J, Part I Line 1 - The University pays for the President's country club fees. This fringe benefit is taxable to the President and properly substantiated. A Salus University - Series 2007 231413680 70917phg7 2012-08-15 9435000 Renovation of Optometry Clinic true true false A 9295000 0 9435000 0 0 0 140000 0 0 0 0 0 2012 true false true A false false true false false 0.01600 0.00000 0.01600 false false false false A false true false 0 false 0 false false A false SCHEDULE K, PART VI 0 THE UNIVERSITY QUALIFIED FOR A THREE-YEAR TEMPORARY PERIOD FOR THE CONSTRUCTION PROJECT THAT WAS A PART OF THIS ISSUE. DUE TO UNANTICIPATED CIRCUMSTANCES BEYOND THE UNIVERSITY'S CONTROL IMPACTING CONSTRUCTION, including the economic downturn in 2008 and 2009, and certain subsurface issue on the property, the project is not scheduled to be completed until 11/2011. the university caused the unspent bond proceeds to be yield restricted upon the expiration of the three-year temporary period. Schedule K, Part V 0 The organization is in the process of establishing written procedures, to be effective by the end of the fiscal year June 30, 2014, to ensure: 1) all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2 and 2) violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulation regulation. FORM 990, PART III, LINE 2 In order to further its mission to be a health science university, Salus University, will be adding 3 new degree programs in the next two or three years. The programs are a PhD in Bio Science, a doctoral and masters in Occupational Therapy and a doctoral and masters in Speech & Language Pathology. FORM 990, PART VI, LINE 11 The University's Form 990 was prepared by Grant Thornton LLP in conjunction with the University's financial department. A copy of the draft Form 990 was made available to the Finance Committee on a secured website maintained by the organization. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its electronic filing with the Internal Revenue Service. FORM 990, PART VI, LINE 12 Each officer, director, trustee and key employee of the University is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the University. The University monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately by an ad hoc committee established for just such purpose. FORM 990, PART VI, LINE 15 The President is the organization's top management official. The President's compensation is determined by the executive committee of the board. In determining compensation, the Board relies upon comparability data of institutions similarly situated to Salus University. The deliberations to determine the President's Compensation are documented in the Board Committee's minutes. Compensation paid to other officers or key employees of the organization is determined by the President of the University in consultation with the Director of Human Resources. When necessary, they will utilize independent comparability data to benchmark a reasonable salary for these individuals. FORM 990, PART VI, LINE 19 The organization makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Reconciliation of Net Assets Form 990, Part XI, Line 5 Income from Foundation 2,963,169 AU Clinic - PEI Net Loss (50,152) Other (20,250) Change in Post retirement benefit liability (453,996) ----------- Total Line 5 3,346,763 =========== PA College of Optometry Foundation 8360 old york road elkins park PA 19027 233030893 fundraising PA 501(c)(3) 11 Salus false Pennsylvania Ear Institute 8360 old york road elkins park PA 19027 202888384 healthcare PA 501(c)(3) 11 Salus false false false false false false false false false true false true true true true true false false true PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION K 255000 FMV PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION O 748899 FMV PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION R 124695 FMV