2014-03-25T15:50:20-05:00 2013-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2012-07-01 231352613 GWYNEDD MERCY UNIVERSITY GWYN 2156467300 1325 SUMNEYTOWN PIKE GWYNEDD VALLEY PA 19437 KEVIN O'FLAHERTY 2156467300 2014-03-25 1 JULIUS GREEN CPA P00350393 2159720701 2012 2015-11-30 17:44:51Z KEVIN O'FLAHERTY 1325 SUMNEYTOWN PIKE GWYNEDD VALLEY PA 19437 61754000 0 X WWW.GMERCYU.EDU X 1948 PA GWYNEDD-MERCY COLLEGE IS A CATHOLIC COLLEGE FOUNDED AND SPONSORED BY THE SISTERS OF MERCY. 21 20 1140 50 0 0 3717000 6213000 55097000 53337000 547000 156000 34000 421000 59395000 60127000 15853000 15024000 0 0 20890000 23385000 0 0 804000 18100000 17904000 54843000 56313000 4552000 3814000 98310000 104587000 55811000 56041000 42499000 48546000 X GWYNEDD-MERCY COLLEGE'S MISSION IS TO CREATE A LEARNING COMMUNITY ROOTED IN GOSPEL VALUES AND RICH IN THE LIBERAL ARTS. IN AN ATMOSPHERE OF INQUIRY AND DIALOGUE, WE SEEK TO COMBINE EDUCATION FOR PROFESSIONAL COMPETENCY WITH THE MERCY TRADITION OF SERVICE TO SOCIETY. WE RECENTLY RECEIVED WORD FROM THE SECRETARY OF EDUCATION IN HARRISBURG THAT WE ARE NOW OFFICIALLY A UNIVERSITY AND WILL REBRAND OURSELVES AS GWYNEDD MERCY UNIVERSITY BRINGING WITH THIS CHANGE NEW ACADEMIC OPPORTUNITIES AND RESPONSIBILITIES AS WE EXPAND OUR CURRICULUM AND ACADEMIC OFFERINGS. 0 0 20302000 47810000 EDUCATION OF STUDENTS - AWARDING UNDERGRADUATE AND GRADUATE DEGREES IN NURSING AND ALLIED HEALTH PROFESSIONS, EDUCATION, BUSINESS AND ARTS AND SCIENCES, IN TRADITIONAL AND ACCELERATED FORMATS, BOTH ON GROUND AND ON LINE, WE PROVIDE STUDENTS WITH A QUALITY HIGHER EDUCATION PRODUCING DISTINCTIVE MERCY GRADUATES. 15024000 15024000 FINANCIAL AID TO STUDENTS - PROVIDING ACCESS TO HIGHER EDUCATION FOR ACADEMICALLY GIFTED AS WELL AS ECONOMICALLY CHALLENGED STUDENTS. 95% OF FULL TIME STUDENTS ATTENDING GWYNEDD-MERCY COLLEGE RECEIVE INSTITUTIONAL SCHOLARSHIP AND GRANTS. 4978000 5527000 HOUSING AND MEAL SERVICES FOR STUDENTS - PROVIDING LIVING ARRANGEMENTS THAT SUPPORT AND ENHANCE EDUCATIONAL AND SOCIAL EXPERIENCES THUS DEVELOPING IMPORTANT LIFE SKILLS. 40304000 1 1 0 0 0 1 0 0 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 0 0 0 0 0 0 1 0 0 0 1 58 0 1 1140 1 0 0 0 0 0 1 1 0 0 0 0 X 21 20 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KEVIN O'FLAHERTY 2156467300 1325 SUMNEYTOWN PIKE GWYNEDD VALLEY PA 19437 KATHLEEN OWENS 40.00 X X 310089 0 26106 NANCY A DUNLEAVY 1.00 X X 0 0 0 ERNEST BEHR 1.00 X 0 0 0 PETER L DEANGELIS JR 1.00 X 0 0 0 MARY ANN DILLION 1.00 X 0 0 0 MARY ANNE FRANCISCO 1.00 X 0 0 0 LINDA GALANTE ESQ 1.00 X 0 0 0 VIRGINIA HASSON 1.00 X 0 0 0 KATHLEEN KEENAN 1.00 X 0 0 0 STEVEN LEWIS 1.00 X 0 0 0 REGINA LOWRIE 1.00 X 0 0 0 GERALD J MAGINNIS 1.00 X 0 0 0 DAVID MALLACH 1.00 X 0 0 0 MERCEDES J MCCANN 1.00 X 0 0 0 MARY ANN MCGINLEY-FITZPATRICK 1.00 X 0 0 0 CHARLOTTE O MCKINES 1.00 X 0 0 0 ANN O'CONNELL 1.00 X 0 0 0 JOSEPH J PALMER 1.00 X 0 0 0 FRANK C PALOPOLI 1.00 X 0 0 0 LAWRENCE J STUARDI 1.00 X 0 0 0 EILEEN ZARO 1.00 X 0 0 0 BARBARA B MCHALE 40.00 X 62368 0 13547 KEVIN O'FLAHERTY 40.00 X 180767 0 13721 CHERYL HORSEY 40.00 X 135598 0 15010 GERALD MCLAUGHLIN 40.00 X 135362 0 11146 DENISE VANACORE 40.00 X 125645 0 15106 ANDREA HOLLINGSWORTH 40.00 X 125395 0 14329 BARBARA JONES 40.00 X 123691 0 13661 1198915 0 122626 17 0 1 0 TN WARD COMPANY 129 COULTER AVE ARDMORE PA 19003 CONTRACTOR 10214444 PARKHURST DINING SERVICES PO BOX 644091 PITTSBURGH PA 152644901 DINING SERVICES 1970170 GEARY LSF GROUP 655 MONTGOMERY STREET SAN FRANCISCO CA 94111 INTERNET MARKETING 517337 LIMBACH COMPANY LLC 175 TITUS AVE SUITE 100 WARRINGTON PA 18976 HVAC SERVICES 333046 WESTLEY INC 8101 WASHINGTON LANE WYNCOTE PA 19095 CONSTRUCTION 283399 28 24000 26000 4079000 2084000 6213000 TUITION AND FEES 611600 47810000 47810000 AUXILIARY ENTERPRISES 611710 5527000 5527000 53337000 559000 559000 15000 15000 0 1182000 1585000 -403000 -403000 -403000 23000 24000 27000 -4000 -4000 FORFEITED DEPOSITS/ED ROOM RENTAL 900099 159000 159000 ATHLETIC EVENTS 900099 159000 159000 PARKING FEES 900099 64000 64000 43000 43000 425000 60127000 53337000 0 577000 15024000 15024000 1009000 868000 141000 18395000 10030000 8022000 343000 785000 409000 342000 34000 1705000 863000 766000 76000 1491000 774000 680000 37000 37000 37000 125000 125000 107000 107000 4641000 4190000 403000 48000 1830000 165000 1665000 1777000 1329000 422000 26000 296000 290000 6000 2484000 1332000 1152000 512000 434000 43000 35000 808000 808000 2296000 2296000 173000 5000 168000 STUDENT ACTIVITIES 1022000 1021000 1000 BOOKS & PUBLICATIONS 299000 295000 4000 ATHLETICS 285000 285000 BOND EXPENSES 245000 245000 967000 509000 395000 63000 56313000 40304000 15205000 804000 2000 17287000 14506000 3714000 2235000 1664000 1982000 2005000 2316000 4000 1585000 341000 92913000 39669000 41678000 53244000 29791000 28981000 586000 976000 98310000 104587000 4528000 5495000 2708000 2876000 46438000 45523000 2137000 2147000 55811000 56041000 X 24375000 25767000 7823000 11731000 10301000 11048000 42499000 48546000 98310000 104587000 3814000 2020000 213000 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1800 10000 90059 0 0 15556000 1100000 1567000 281000 92000 17850000 15046000 1061000 -247000 304000 15556000 12214000 1110000 2013000 291000 15046000 7353000 3984000 1166000 289000 12214000 0.38000 0.62000 0 1 1 62293000 27631000 34662000 3982000 2741000 1241000 9019000 7221000 1798000 17619000 2076000 15543000 53244000 FEDERAL GOVERNMENT INVESTMENT - LOAN PROGRAM 2147000 2147000 X 47271000 2020000 213000 -15024000 -12791000 60062000 107000 -42000 65000 60127000 41224000 42000 42000 41182000 107000 15024000 15131000 56313000 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO SUPPORT THE MISSION OF THE ORGANIZATION SPECIFICALLY FOR STUDENT SCHOLARSHIPS AND PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") GUIDANCE THAT REQUIRES A TAX POSITION TO 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 COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION INCOME TAX RETURNS FOR 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT AID -15,024,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -27,000. RENTAL EXPENSES -15,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 27,000. RENTAL EXPENSES 15,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 15,024,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 A STATEMENT OF THE COLLEGE'S NONDISCRIMINATION POLICY IS INCLUDED IN ALL COLLEGE RECRUITING MATERIALS, ON ITS WEB SITE AND IN ALL PUBLISHED ADVERTISEMENTS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 PA INSTITUTIONAL ASSISTANCE GRANT GOLF OUTING 47000 24000 23000 1000 25000 1000 47000 24000 23000 1000 25000 1000 27000 -4000 1 STUDENT AID 1845 15024000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE OFFICE OF STUDENT FINANCIAL AID PROVIDES SCHOLARSHIP AND GRANTS TO STUDENTS IN ACCORDANCE WITH COLLEGE POLICIES AND DONOR GUIDELINES. THE COLLEGE ALSO MAINTAINS COMPREHENSIVE RECORD OF THE SAME. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 KATHLEEN OWENS 265289 0 0 0 44800 0 18582 0 7524 0 336195 0 0 0 KEVIN O'FLAHERTY 180767 0 0 0 0 0 12612 0 1109 0 194488 0 0 0 CHERYL HORSEY 135598 0 0 0 0 0 9558 0 5452 0 150608 0 0 0 PART I, LINE 1A TRAVEL FOR SPOUSE - KATHLEEN OWENS, PRESIDENT, NOT INCLUDED IN TAXABLE COMPENSATION. SPOUSE IS A REPRESENTATIVE OF THE COLLEGE. HOUSING ALLOWANCE - KATHLEEN OWENS, PRESIDENT, INCLUDED $32,500 IN TAXABLE COMPENSATION. HEALTH CLUB DUES - KATHLEEN OWENS, PRESIDENT, INCLUDED $4,400 IN TAXABLE COMPENSATION. SOCIAL CLUB DUES - KATHLEEN OWENS, PRESIDENT, NOT INCLUDED IN TAXABLE COMPENSATION. ALL USE OF THE SOCIAL CLUB IS BUSINESS RELATED. A PA HIGHER EDUCATION FACILITIES AUTHORITY 70917RMF9 2007-07-26 19900000 REFINANCE & CAPITAL IMPROVEMENTS 0 0 0 B PA HIGHER EDUCATION FACILITIES AUTHORITY 700917RKU 2007-07-26 18680000 REFINANCE 0 0 0 C PA HIGHER EDUCATION FACILITIES AUTHORITY 700917RSL 2012-05-10 10000000 0 0 0 A 19913134 1611954 358000 776335 5811290 11954979 2010 0 1 1 1 B 1530000 18524109 1571674 582186 16345234 2008 0 1 1 1 C 9939185 1000095 141215 5058631 3922560 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 1 B 1 C 1 SCHEDULE K, PART II LINE 3 PROCEEDS DO NOT AGREE TO ISSUE PRICE DIFFERENCE REPRESENTS PREMIUM/DISCOUNT ON ISSUE SCHEDULE K, PART II LINE 11 OTHER SPENT PROCEEDS REPRESENTS REFINANCING OF PREVIOUSLY EXISTING BONDS SCHEDULE K, PART IV LINE 7 THE COLLEGE PLANS TO ESTABLISH WRITTEN PROCEDURES TO MONITOR THE REQUIREMENTS OF SECTION 148 BY JUNE 30TH, 2014. FORM 990, PAGE 1, BOX C, NAME OF ORGANIZATION: GWYNEDD MERCY RECEIVED ITS UNIVERSITY STATUS FROM THE SECRETARY OF EDUCATION IN HARRISBURG AND IS NOW KNOWN AS GWYNEDD MERCY UNIVERSITY. THIS NAME CHANGE WAS REPORTED TO THE IRS ON OCTOBER 23, 2013 AND THE IRS RECOGNIZES THE NEW NAME AS OF JANUARY 6, 2014. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD, THE PRESIDENT, THE VICE CHAIR, ONE OR MORE BOARD COMMITTEE CHAIRS AMD ONE OR MORE MEMBERS AT LARGE. THE EXECUTIVE COMMITTEE SHALL INCLUDE AT LEAST TWO SISTERS OF MERCY. THE EXECUTIVE COMMITTEE SHALL TAKE ACTION BETWEEN BOARD MEETINGS CONSISTENT WITH EXISTING BOARD POLICY AND FURTHER SUBJECT TO SUCH LIMITATIONS UPON ITS AUTHORITY AS THE BOARD OF TRUSTEES MAY, FROM TIME TO TIME, IMPOSE. FORM 990, PART VI, SECTION A, LINE 4 GWYNEDD-MERCY COLLEGE HAS CHANGED ITS NAME TO GWYNEDD MERCY UNIVERSITY IN ITS BYLAWS SINCE THE PRIOR FORM 990 WAS FILED. FORM 990, PART VI, SECTION A, LINE 6 BOARD MEMBERS ARE ALL OF THE SAME CLASS. ONE-FOURTH OF THE BOARD OF TRUSTEES SHALL AT ALL TIMES BE PERPETUALLY PROFESSED MEMBERS OF THE SISTERS OF MERCY. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE APPROVED BY TRUSTEES AND ULTIMATE APPROVAL IN THE FORMAL ELECTION GOES TO THE CONFERENCE FOR MERCY HIGHER EDUCATION. FORM 990, PART VI, SECTION A, LINE 7B THE CONFERENCE FOR MERCY HIGHER EDUCATION HAS RESERVED POWERS SUCH AS APPROVAL TO CHANGE THE MISSION OR APPOINT NEW TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD'S FINANCE AND AUDIT COMMITTEE REVIEWS THE FORM 990 AT THEIR MEETING AND THEN PRESENT COMMENTS IN THE APPROVAL AT A FOLLOWING BOARD MEETING. BOARD MEMBERS HAVE ACCESS TO A SECURED WEBSITE TO REVIEW THE FORM 990 PRIOR TO THE DISCUSSION AT THE MARCH BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE OFFICERS, TRUSTEES, AND KEY EMPLOYEES DISCLOSE AND SIGN OFF ON ANY CONFLICTS OF INTEREST ON AN ANNUAL CONFLICT OF INTEREST STATEMENT. THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HAS DESIGNED A PROCESS FOR DETERMINING THE COMPENSATION OF THE CEO. THE PROCESS INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. THE EXECUTIVE COMMITTEE REQUESTED AND RECEIVED A LETTER OF SUBSTANTIATION FROM THE COLLEGE'S ATTORNEY IN SUPPORT OF THE PROCESS AND THE TERMS OF THE COMPENSATION. ALL INFORMATION AND DOCUMENTS WERE SHARED WITH THE BOARD IN AN EXECUTIVE SESSION. COMPENSATION TO OTHER KEY EMPLOYEES IS REVIEWED BY THE BOARD CHAIR. THE PROCESS FOR THE CEO WAS LAST COMPLETED IN 2010 AND WAS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CONFERENCE FOR MERCY HIGHER EDUCATION 8630 FENTON STREET SUITE 934 SILVER SPRINGS MD 20910 431973007 RELIGIOUS SPONSOR OF THE ORGANIZATION MD 501(C)(3) LINE 9 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0