2014-05-06T13:28:58-05:00 2013-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2012-07-01 231352648 IMMACULATA UNIVERSITY % JENNIFER SAUER IMMA 6106474400 CATHOLIC CONFERENCE Suite IMMACULATA PA 193450631 Jennifer Sauer 6106474400 2014-05-06 true Frank Giardini 2155614200 2012 2015-11-30 17:44:51Z Sister Patricia Fadden 1145 King Rd Immaculata PA 19345 66791703 false X WWW.IMMACULATA.EDU X 1946 PA THE UNIVERSITY OFFERS UNDERGRADUATE AND GRADUATE PROGRAMS DIRECTED PRIMARILY TOWARD LIBERAL AND PROFESSIONAL EDUCATION. PLEASE SEE ATTACHMENT 1 FOR FURTHER DETAILS ON THE UNIVERSITY'S MISSION. 24 24 1752 246 162918 -2404 3528515 2525143 62525977 62718172 956835 1013684 418677 474228 67430004 66731227 12483225 13463896 0 0 29072668 29831634 0 0 841122 23476854 22618208 65032747 65913738 2397257 817489 91947777 91332229 54026050 51314525 37921727 40017704 X Immaculata University (the University) is a Catholic educational institution of higher education founded for women in 1920 by the Sisters, Servants of the Immaculate Heart of Mary (the Congregation). The University offers undergraduate and graduate programs directed primarily toward liberal and professional education. Effective fall 2005, the University expanded its market in higher education to include both men and women in its traditional undergraduate program. The University offers courses in distance and online instruction in addition to on campus and off site graduate and undergraduate programs serving the adult learner. The University, to attain the goal of developing the whole person of any faith within a Catholic community, encourages the student to see in liberal education an integrative process contributing to the formation of a truly educated person: value oriented and committed to seeking the truth, promoting justice, and fostering peace. false false 42337923 13192706 56229354 To educate and provide related services to students. In the fall of 2012, this program benefitted 4,117 students, of whom 2,696 were enrolled full time. In the spring of 2013, this program benefitted 4,022 students, 2,639 of whom were enrolled full time. This program also contributed toward the graduation of 926 students. 4182674 162650 3386742 To provide living quarters for students. On an annualized basis, this program benefitted 479 students. 3338808 108540 2498106 To provide meals to students. On an annualized basis, this program benefitted 483 students. 279533 Food Service- Catering 246189 Food Service- Cash Receipts 76032 Bookstore Commission 2216 Vending and Non Credit Workshops 603970 49859405 true true false false false false false false false true true false false false true true true false true false false false true false true false false false true true true false false false false false false false false false false true false false false false true false false false true 94 0 true 1752 true true true false false false false true true false false false false X 24 24 false false false false false false false true true false false true true true true false true true true false PA X JENNIFER SAUER 6106474400 1145 KING RD IMMACULATA PA 19345 Sister Lorraine McGrew IHM 2.0 X 0 0 0 Sister Mary Bednar IHM 2.0 X 0 0 0 Peggy A Behm 2.0 X 0 0 0 Phyllis Bellopede 2.0 X 0 0 0 Sister Elaine de Chantal Brookes 2.0 X 0 0 0 Sister Patricia Dailey IHM 2.0 X 0 0 0 Sister Carolyn M Dimick IHM 2.0 X 0 0 0 Frank A Farnesi 2.0 X 0 0 0 Sister Anita Patrick Gallagher 2.0 X 0 0 0 Sister Marie Esther Hart IHM 2.0 X 0 0 0 Charles Kerrigan 2.0 X 0 0 0 Marion A McGowan 2.0 X 0 0 0 Sister Eileen M McGuigan IHM 2.0 X 0 0 0 Sister Anne B McGuire IHM 2.0 X 0 0 0 Sister Patricia Mengel IHM 2.0 X 0 0 0 Thomas Cancelmo 2.0 X 0 0 0 Maryann Hammeke Romeo 2.0 X 0 0 0 James Gabriele 2.0 X 0 0 0 Rev T Christopher Redcay 2.0 X 0 0 0 A J Gabriele 2.0 X 0 0 0 The Honorable Thomas A Pitt Jr 2.0 X 0 0 0 Edward Roach 2.0 X 0 0 0 Sister Donna Shallo IHM 2.0 X 0 0 0 Sister Mary Smith IHM 2.0 X 0 0 0 Barbara Lettiere 2.0 X 0 0 0 Maureen H McCullough 2.0 X 0 0 0 Sister Rita James Murphy IHM 2.0 X 0 0 0 Bernadette Maguire 2.0 X 0 0 0 Mimi Draper-Walsh 2.0 X 0 0 0 SISTER R PATRICIA FADDEN 40.0 X 0 0 0 SISTER ANN HEATH 40.0 X 0 0 0 Jennifer Sauer 40.0 X 168076 0 75297 Kevin Quinn 40.0 X 44615 0 5713 STEPHEN PUGLIESE 40.0 X 131548 0 18042 ROBERT COLE 40.0 X 159750 0 19106 SISTER MARIE HUBERT KEALY IHM 40.0 X 0 0 0 Janet Kane 40.0 X 119051 0 30874 Jed Yalof 40.0 X 120405 0 31981 Francis Martin 40.0 X 116671 0 14358 Philip Hubbard 40.0 X 113375 0 16817 Thomas Compitello 40.0 X 112750 0 14363 THOMAS J FORD 40.0 X 103565 0 7250 THERESA GRENTZ 40.0 X 155500 0 10885 1345306 0 244686 15 true true false ARAMARK CORPORATION PO BOX 198532 ATLANTA GA 303848532 SERV/FAC MGMT 2779827 Ellucian Company 2300 Maitland Center Pkwy MAITLAND FL 32751 Consultant 3213173 RC Legini Company Inc 46 Pennsylvania Avenue MALVERN PA 19335 Construction Mgmt 1989932 Chester Valley Engineers 83 Chestnut Road PAOLI PA 19301 Construction mgmt 813994 Canon Solutions America Inc 15004 Collection Center Drive CHICAGO IL 60693 Mail/Dup services 504395 16 62939 1034128 1428076 52665 2525143 TUITION/FEES 900099 56229354 56229354 RESIDENT HALLS 900099 3386742 3386742 STUDENT BOARD PLAN 900099 2498106 2498106 FOOD SVCS-CATERING 900099 279533 279533 IU CASH RECEIPTS 900099 246189 246189 78248 78248 62718172 1013684 1013684 0 0 358601 31980 326621 0 326621 326621 0 28496 62939 28496 0 0 0 0 FORFEIT STUDENT DEPOSITS 900099 13356 13356 TRANSCRIPT INCOME 900099 22740 22740 PARKING FEE/PERMITS 812930 37200 37200 74311 -88607 162918 147607 66731227 62702861 162918 1340305 0 13363596 13363596 100300 100300 0 836689 158225 522101 156363 0 21660812 17417201 3813575 430036 1050092 764398 257217 28477 4654841 3169081 1390942 94818 1629200 1355683 240496 33021 0 166310 166310 135025 135025 0 0 0 3343513 2329419 982472 31622 691647 135812 555835 6194174 4698578 1451569 44027 3833061 3833061 0 0 348617 235162 101596 11859 0 0 1969143 1516240 452903 0 4661336 3589229 1072107 503740 403060 100680 EQUIPMENT RENTAL & MAINT. 583452 482278 97802 3372 SISTERS RESIDENCE EXPENSE 188190 141143 39520 7527 65913738 49859405 15213211 841122 2251668 1443859 0 0 63469 56872 2375689 1889555 0 0 0 0 494258 454385 0 0 1071326 763255 126928483 65958029 61466962 60970454 23574884 25149079 0 0 0 0 0 0 649521 604770 91947777 91332229 3744663 3041514 0 0 3281432 2611606 35705818 34816814 0 0 0 0 8267019 8055953 0 0 3027118 2788638 54026050 51314525 X 24088162 24977675 7047237 7903516 6786328 7136513 37921727 40017704 91947777 91332229 817489 1434162 -155674 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14145578 396185 1974674 214794 508033 15793610 14732085 359684 -242809 216235 487147 14145578 12499547 230185 2661982 186113 473516 14732085 11291751 263676 1566660 162879 459661 12499547 14746735 80741 -2850614 218000 467111 11291751 0.37630 0.62070 0.00300 false false 212719 212719 92614805 42834599 49780206 3306722 3306722 30794237 23123430 7670807 60970454 0 CONDITIONAL ASSET RETIREMENT 1780041 STUDENT DEPOSITS 367802 SWAP AGREEMENTS 640795 2788638 X 56135422 1434162 1557623 31980 3023765 53111657 155674 13463896 13619570 66731227 54039445 1557623 31980 1589603 52449842 13463896 13463896 65913738 Intended Use of Endowment Fund SCHEDULE D, PART V, LINE 4 The University's endowment consists of approximately 45 individual funds established for a variety of purposes including scholarships, faculty development and general operations. FIN 48 Disclosure (ASC 740) SCHEDULE D, PART X The University is qualified as a not-for-profit organization under Section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the University is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. The University recognizes the effect of income tax provisions, if any, only if those positions are more likely than not of being sustained. No provision for income taxes was required for fiscal year 2013 or 2012. Reconciliation of Revenue - Other SCHEDULE D, PART XI, LINE 2D RENTAL EXPENSE $31,980 Reconciliation of Revenue - Other SCHEDULE D, PART XI, LINE 4B SCHOLARSHIP TUITION DISCOUNT $13,192,706 RESIDENT ASSISTANT DISCOUNTS $ 271,190 ----------- $13,463,896 Reconciliation of Expense - Other SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE RECLASSED TO REVENUE $ 31,980 Reconciliation of Revenue - Other SCHEDULE D, PART XII, LINE 4B SCHOLARSHIP TUITION DISCOUNT $13,192,706 RESIDENT ASSISTANT DISCOUNTS $ 271,190 ----------- $13,463,896 true true true true true true true false false false false false false false false true false true Part I, Line 3 THE UNIVERSITY PROVIDES A STATEMENT IN ALL PUBLICATIONS REGARDING ITS NONDISCRIMINATORY POLICY. Part I, Line 6 FEDERAL AND STATE GRANTS true Sub-Saharan Africa Grantmaking 37000 North America Grantmaking 6500 East Asia and the Pacific Grantmaking 56800 100300 100300 Scholarships to Various Students 6 100300 Scholarships/Fin Aid FMV false false false false false false Grant Monitoring Procedures Schedule F, Part I, Line 2 GRANTS ISSUED BY IMMACULATA UNIVERSITY ARE PRIMARILY IN THE FORM OF SCHOLARSHIP AND GRANTS AWARDED AS PART OF FINANCIAL AID. FINANCIAL AID GRANTS AWARDED TO STUDENTS ARE DIRECTLY APPLIED BY THE UNIVERSITY TO OFFSET BILLED AMOUNTS (I.E. TUITION) ON THE STUDENT'S ACCOUNT, THEREBY REDUCING THE NET BALANCE DUE TO THE UNIVERSITY. STUDENTS RECEIVING SCHOLARSHIPS ARE ASSESSED ON THE BASIS OF ACADEMIC ACHIEVEMENTS, FINANCIAL NEEDS, AND SIMILAR STANDARDS. Golf Tournament 89385 60889 28496 20720 132 7644 IU Night@Phils 2050 2050 0 0 0 91435 62939 28496 20720 132 7644 28496 true SCHOLARSHIPS TO VARIOUS STUDENTS 1102 13363596 FMV Scholarships/Fin Aid Grant Monitoring Procedures Schedule I, Part I, Line 2 GRANTS ISSUED BY IMMACULATA UNIVERSITY ARE PRIMARILY IN THE FORM OF SCHOLARSHIP AND GRANTS AWARDED AS PART OF FINANCIAL AID. FINANCIAL AID GRANTS AWARDED TO STUDENTS ARE DIRECTLY APPLIED BY THE UNIVERSITY TO OFFSET BILLED AMOUNTS (I.E. TUITION) ON THE STUDENT'S ACCOUNT, THEREBY REDUCING THE NET BALANCE DUE TO THE UNIVERSITY. STUDENTS RECEIVING SCHOLARSHIPS ARE ASSESSED ON THE BASIS OF ACADEMIC ACHIEVEMENTS, FINANCIAL NEEDS, AND SIMILAR STANDARDS. true false false false false false false false false THOMAS J FORD 103565 0 0 0 0 0 7250 0 0 0 110815 0 0 0 THERESA GRENTZ 155500 0 0 0 0 0 10885 0 0 0 166385 0 0 0 Jennifer Sauer 168076 0 0 0 0 0 12460 0 62837 0 243373 0 0 0 ROBERT COLE 159750 0 0 0 0 0 11175 0 7931 0 178856 0 0 0 Jed Yalof 120405 0 0 0 0 0 7396 0 24585 0 152386 0 0 0 Schedule J, Part I, Line 3 Compensation of President and other MEMBERS OF RELIGIOUS ORDER SISTER PATRICIA FADDEN, IHM, PRESIDENT OF IMMACULATA UNIVERSITY IS A MEMBER OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DOES NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH HER STATED VOW OF POVERTY. THE COMPENSATION OF ALL OFFICERS OF THE UNIVERSITY IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF TRUSTEES. SALARY DATA IS GATHERED FROM INDUSTRY PUBLICATIONS, HIGHER EDUCATION ASSOCIATIONS AND PEER UNIVERSITIES TO BENCHMARK COMPENSATION ON AN ANNUAL BASIS. COMPENSATION IS SET WITHIN THE CONSTRAINTS OF THE BOARD OF TRUSTEES' APPROVED OPERATING BUDGET. SALARY DATA IS GATHERED FROM CUPA AND NACUBO AND IS USED TO ESTABLISH BENCHMARKS FOR UNIVERSITY EXECUTIVE ADMINISTRATORS. THIS PROCESS WAS LAST UNDERTAKEN FOR THE FISCAL YEAR 2010-2011. THE FOLLOWING TRUSTEES OF IMMACULATA UNIVERSITY'S BOARD OF TRUSTEES ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: Sister Lorraine McGrew, IHM Sister Mary Anne Bednar, IHM Sister Elaine De Chantal Brookes, IHM Sister Patricia Dailey, IHM Sister Carolyn M. Dimick, IHM Sister Anita Patrick Gallagher, IHM Sister Marie Esther Hart, IHM Sister Eileen M. McGuigan, IHM Sister Anne B. McGuire, IHM Sister Patricia Mengel, IHM Sister Donna Shallo, IHM Sister Mary Smith, IHM Sister Rita James Murphy, IHM THE FOLLOWING OFFICERS OF IMMACULATA UNIVERSITY ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: Sister Patricia Fadden, IHM - President Sister Ann Heath, IHM - Vice President, Academic Affairs Sister Marie Hubert Kealy, IHM - Secretary Compensation of all other officiers Schedule J, Part I, Line 4a SEVERENCE PAYMENTS THERESA GRENTZ RECEIVED A SEVERANCE PAYMENT IN APRIL 2012 IN THE AMOUNT OF $155,500. A Chester County Health & Ed Facilities Au 232265260 1655790p5 2005-06-26 23128100 Campus renovations and upgrades false false false B Chester County Health & Ed Facilities Au 232265260 2010-12-15 14165797 Current refunding, est debt servic false false false A 0 0 22773035 1837385 2282832 0 685133 0 0 19144676 0 0 2007 false false true true B 0 0 14161736 500000 0 0 195939 0 0 0 13465797 0 true false true true A false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true B 0 false true A true false false 0 true AG Match Funding 3. true false true B false true true true PNC Bank NA 4.19 0 true A true B true Schedule K, Part I Column (e), LINE A 0 ISSUE PRICE $23,128,100 DEPOSIT TO RESERVE FUND 2,000,000 INTEREST OF DEBT SERVICE RESERVE FUND 102,361 COST OF ISSUE DEDUCTED FROM PROCEEDS AT CLOSING (457,415) ------------ PART II, LINE 3 24,773,046 Schedule K, Part I Column (e), Line B 0 ISSUE PRICE $14,165,797 ISSUE COSTS OVERESTIMATED ON FORM 8036 (4,061) ------------ PART II, LINE 3 14,161,736 X 52655 Donor provided value X 4 173385 FMV false true false PART VI, LINE 11A REVIEW OF FORM 990 AN INDEPENDENT TAX PREPARATION FIRM IS ENGAGED TO ASSIST IN COMPILING FORM 990 WITH DATA PROVIDED FROM THE BUSINESS OFFICE. UNIVERSITY MANAGEMENT REVIEWS THE FORM 990 FOR COMPLETENESS AND ACCURACY. PRIOR TO FILING, MANAGEMENT PRESENTS THE FORM 990 TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990 IS REVIEWED AND SIGNED BY THE VICE PRESIDENT FOR FINANCE & ADMINISTRATION. Part VI, Line 12c CONFLICT OF INTEREST POLICY THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT AND SUBMIT SUCH STATEMENT TO THE UNIVERSITY PRESIDENT. THE PRESIDENT REVIEWS THOSE STATEMENTS FOR POTENTIAL CONFLICTS. THE DISCLOSURE STATEMENT ALSO REQUIRES ALL MEMBERS TO NOTIFY THE UNIVERSITY PRESIDENT PROMPTLY OF ANY ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST AS IT ARISES, SO THAT IT CAN BE ADDRESSED IMMEDIATELY. SHOULD THERE BE A CONFLICT OF INTEREST ANY AFFECTED TRUSTEE OR OFFICER SHALL REFRAIN FROM ANY CONSIDERATION OF, OR ACTION UPON, THE TRANSACTION OR PROPOSED TRANSACTION. PART VI, LINE 15A PROCESS FOR DETERMINING COMPENSATION Of President of University SISTER PATRICIA FADDEN, IHM, PRESIDENT OF IMMACULATA UNIVERSITY IS A MEMBER OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DOES NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH HER STATED VOW OF POVERTY. PART VI, LINE 15B PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION OF ALL OFFICERS OF THE UNIVERSITY IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF TRUSTEES. SALARY DATA IS GATHERED FROM INDUSTRY PUBLICATIONS, HIGHER EDUCATION ASSOCIATIONS AND PEER UNIVERSITIES TO BENCHMARK COMPENSATION ON AN ANNUAL BASIS. COMPENSATION IS SET WITHIN THE CONSTRAINTS OF THE BOARD OF TRUSTEES' APPROVED OPERATING BUDGET. SALARY DATA IS GATHERED FROM CUPA AND NACUBO AND IS USED TO ESTABLISH BENCHMARKS FOR UNIVERSITY EXECUTIVE ADMINISTRATORS. THIS PROCESS WAS LAST UNDERTAKEN FOR THE FISCAL YEAR 2010-2011. PART VII & SCHEDULE J COMPENSATION OF MEMBERS OF RELIGIOUS ORDER THE FOLLOWING TRUSTEES OF IMMACULATA UNIVERSITY'S BOARD OF TRUSTEES ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: Sister Lorraine McGrew, IHM Sister Mary Anne Bednar, IHM Sister Elaine De Chantal Brookes, IHM Sister Patricia Dailey, IHM Sister Carolyn M. Dimick, IHM Sister Anita Patrick Gallagher, IHM Sister Marie Esther Hart, IHM Sister Eileen M. McGuigan, IHM Sister Anne B. McGuire, IHM Sister Patricia Mengel, IHM Sister Donna Shallo, IHM Sister Mary Smith, IHM Sister Rita James Murphy, IHM THE FOLLOWING OFFICERS OF IMMACULATA UNIVERSITY ARE MEMBERS OF THE SISTERS, SERVANTS OF THE IMMACULATE HEART OF MARY RELIGIOUS CONGREGATION AND DO NOT RECEIVE COMPENSATION FOR THIS SERVICE IN KEEPING WITH THEIR STATED VOW OF POVERTY: Sister Patricia Fadden, IHM - President Sister Ann Heath, IHM - Vice President, Academic Affairs Sister Marie Hubert Kealy, IHM - Secretary PART VI, LINE 19 PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY, AND FINANCIALS THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SISTERS SERVANTS OF IHM VILLA MARIA GENERALATE 1140 KING RD IMMACULATA PA 19345 231352569 Religious PA 501(c)(3) 2 NA false ENSERV INC PO BOX 665 IMMACULATA PA 19345 232731906 WATER TREAT. PA 501(c)(3) 2 IMMACULTA true false false true false false false false false false false false false false false false false false true false SISTERS SERVANTS OF IHM R 212241 INTEREST SISTERS SERVANTS OF IHM R 327759 INSURANCE