PENNSYLVANIA COLLEGE OF OPTOMETRY: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- PENNSYLVANIA COLLEGE OF OPTOMETRY (EIN 23-3030893)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2014-05-13
- IRS object ID
- 201431339349303043
- Schema version
- 2012v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule G
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-05-13T12:23:31-05:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 MARKET STREET SUITE 700 | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19103 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 233030893 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Pennsylvania College of Optometry Foundation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % DONALD KATES | InCareOfName |
| Name Control | PENN | NameControl |
| Phone | 2157801240 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8360 Old York Road | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | Elkins Park | City |
| State | PA | State |
| ZIP Code | 19027 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DONALD KATES | Name |
| Title | Vice president for finance | Title |
| Phone | 2157801240 | Phone |
| Date Signed | 2014-05-12 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2155614200 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Dr Michael H Mittelman | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8360 Old York Road | AddressLine1 |
| City | Elkins Park | City |
| State | PA | State |
| ZIP Code | 19027 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 4511190 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.salus.edu/optometry | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1999 | YearFormation |
| State Legal Domicile | PA | StateLegalDomicile |
| Activity Or Mission Description | THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT THE EDUCATIONAL MISSION OF ITS PARENT ORGANIZATION, SALUS UNIVERSITY, THROUGH FUNDRAISING ENDEAVORS AND THE HOLDING OF INVESTMENTS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 8 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 6 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 814430 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 480674 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2323263 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3978326 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 15386 | OtherRevenuePriorYear |
| Other Revenue Current Year | -6889 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 3153079 | TotalRevenuePriorYear |
| Total Revenue Current Year | 4452111 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 86447 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 124695 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 33840 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 34850 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1266658 | OtherExpensePriorYear |
| Other Expenses Current Year | 1444949 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1386945 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1604494 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1766134 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2847617 | RevenuesLessExpensesCY |
| Total Assets BOY | 33523727 | TotalAssetsBOY |
| Total Assets EOY | 36643489 | TotalAssetsEOY |
| Total Liabilities BOY | 1138717 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1295311 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 32385010 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 35348178 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT THE EDUCATIONAL MISSION OF ITS PARENT ORGANIZATION, SALUS UNIVERSITY, THROUGH FUNDRAISING ENDEAVORS AND THE HOLDING OF INVESTMENTS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 1166671 | Expense |
| Grants | 124695 | Grants |
| Description | The Foundation's primary exempt purpose is to support the ongoing educational operations of Salus University. In this regard, the Foundation's sole program is to raise funds to provide student scholarships, research, indigent patient care and institutional support to Salus. | Description |
| Total Program Service Expense | 1166671 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | false | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | true | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | true | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | true | QuidProQuoContributions |
| Quid Pro Quo Disclosure | true | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 8 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | PA | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DONALD KATES | NamePerson |
| Telephone Number | 2157801240 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8360 OLD YORK ROAD | AddressLine1 |
| City | Elkins Park | City |
| State | PA | State |
| ZIP Code | 19027 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (8 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Average Hours Per Week RelatedAverageHoursPerWeekRelated | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|---|
| Dr Thomas L Lewis | |||||||
| President | 7.0 | 33.0 | X | X | 0 | 456960 | 33834 |
| Dr Mark Boas | |||||||
| Director | 1.0 | 1.0 | X | 0 | 14000 | 0 | |
| Carl A Polsky | |||||||
| Treasurer | 1.0 | 1.0 | X | 0 | 0 | 0 | |
| Dr I William Collins | |||||||
| Vice President | 1.0 | 1.0 | X | 0 | 0 | 0 | |
| Dr Barry J Farkas | |||||||
| Director | 1.0 | 1.0 | X | 0 | 0 | 0 | |
| A Michael Iatesta | |||||||
| Secretary | 1.0 | X | 0 | 0 | 0 | ||
| Jo Surpin | |||||||
| Chairman | 1.0 | 1.0 | X | 0 | 0 | 0 | |
| Jane Scaccetti | |||||||
| Director | 1.0 | 1.0 | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 470960 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 33834 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Salus University | |||||
| 8360 Old York Road | ELKINS PARK | PA | 19027 | Management services | 255000 |
| Hirtle Callaghan Co | |||||
| 300 Barr Harbor Drive Suite 500 Wes | CONSHOHOCKEN | PA | 19428 | Consulting | 167365 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| Fundraising Events | 83230 | FundraisingEvents |
| All Other Contributions | 397444 | AllOtherContributions |
| Total Contributions | 480674 | TotalContributions |
| Total Program Service Revenue | 0 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 758938 | TotalRevenueColumn |
| Exclusion | $758,938 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3219388 | TotalRevenueColumn |
| Exclusion | $3,219,388 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 7190 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 83230 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 44079 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -36889 | TotalRevenueColumn |
| Exclusion | -$36,889 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Gaming | 45000 | GrossIncomeGaming |
| Gaming Direct Expenses | 15000 | GamingDirectExpenses |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 30000 | TotalRevenueColumn |
| Exclusion | $30,000 | ExclusionAmount |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4452111 | TotalRevenueColumn |
| Exclusion | $3,971,437 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 124695 | Total |
| Program Services | 124695 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 34850 | Total |
| Program Services | 34850 | ProgramServices |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 255000 | Total |
| Management And General | 255000 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 167365 | Total |
| Management And General | 167365 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40399 | Total |
| Program Services | 34560 | ProgramServices |
| Management And General | 5839 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| PROGRAM AND ACADEMIC DVLMNT | 748899 | 748899 |
| INSTITUTIONAL SUPPORT | 45234 | 45234 |
| PATIENT CARE SUPPORT | 82182 | 82182 |
| RESEARCH | 51770 | 51770 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54100 | Total |
| Program Services | 44481 | ProgramServices |
| Management And General | 9619 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1604494 | Total |
| Program Services | 1166671 | ProgramServices |
| Management And General | 437823 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 903630 | BOY |
| EOY | 662738 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 997593 | BOY |
| EOY | 832603 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 31622504 | BOY |
| EOY | 35148148 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33523727 | BOY |
| EOY | 36643489 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10524 | BOY |
| EOY | 28568 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1128193 | BOY |
| EOY | 1266743 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1138717 | BOY |
| EOY | 1295311 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25439361 | BOY |
| EOY | 28032636 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3226846 | BOY |
| EOY | 3478151 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3718803 | BOY |
| EOY | 3837391 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32385010 | BOY |
| EOY | 35348178 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33523727 | BOY |
| EOY | 36643489 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2847617 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 115551 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type1 | X | SupportingOrg509a3Type1 |
| Certification Checkbox | X | CertificationCheckbox |
| Written IRS Determination | X | WrittenIRSDetermination |
| Contrib By Controlling Individual | false | ContribByControllingIndividual |
| Contribution By Related Party | false | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | false | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SALUS UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231413680 | EIN |
| Type Of Organization | 02 | TypeOfOrganization |
| Listed In Governing Doc | true | ListedInGoverningDoc |
| Supported Organization Notified | true | SupportedOrganizationNotified |
| Organized In US | true | OrganizedInUS |
| Amount | $124,695 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 1 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 124695 | SumOfAmounts |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 18706833 | BeginningOfYearBalance |
| Contributions | 171677 | Contributions |
| Investment Earnings Or Losses | 2259678 | InvestmentEarningsOrLosses |
| Other Expenditures | 574177 | OtherExpenditures |
| End Of Year Balance | 20564011 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 19295567 | BeginningOfYearBalance |
| Contributions | 40244 | Contributions |
| Investment Earnings Or Losses | -261107 | InvestmentEarningsOrLosses |
| Other Expenditures | 367871 | OtherExpenditures |
| End Of Year Balance | 18706833 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 15969601 | BeginningOfYearBalance |
| Contributions | 71024 | Contributions |
| Investment Earnings Or Losses | 3812739 | InvestmentEarningsOrLosses |
| Other Expenditures | 557797 | OtherExpenditures |
| End Of Year Balance | 19295567 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 14690431 | BeginningOfYearBalance |
| Contributions | 71125 | Contributions |
| Investment Earnings Or Losses | 1807200 | InvestmentEarningsOrLosses |
| Other Expenditures | 599155 | OtherExpenditures |
| End Of Year Balance | 15969601 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 18010487 | BeginningOfYearBalance |
| Contributions | 386051 | Contributions |
| Investment Earnings Or Losses | -3608680 | InvestmentEarningsOrLosses |
| Other Expenditures | 97427 | OtherExpenditures |
| End Of Year Balance | 14690431 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.75000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.17000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.08000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
| Land | Land | |
| Buildings | Buildings | |
| Leasehold Improvements | LeaseholdImprovements | |
| Equipment | Equipment | |
| Other Land Buildings | OtherLandBuildings | |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DUE TO ALUMNI ASSOCIATION | $91,585 |
| DUE FROM THE COLLEGE | $1,175,158 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1266743 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 3392566 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | -951259 | OtherRevenues |
| Revenue Not Rptd F990 | -951259 | RevenueNotRptdF990 |
| Revenue Subtotal | 4343825 | RevenueSubtotal |
| Investment Expenses Not Included | 167365 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | -59079 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 108286 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 4452111 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 544949 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 59079 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 59079 | ExpensesNotRptdF990 |
| Expenses Subtotal | 485870 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 167365 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 951259 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 1118624 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1604494 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Intended Uses of Endowment Funds | Schedule D, Part V, Line 4 | The 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 derectognized 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 - Revenue Included on Books but not on Return Non-operating Income/Expense Re-class (951,259) Line 4b - Revenue Included on Form 990 but not on Line 1 Special Events Expenses (44,079) Other Gaming Expenses (15,000) -------- Total (59,079) |
| Reconciliation of Expenses | Form 990, Schedule D, Part XII | Line 2d - Expenses Included on Books but not on Return Special Events Expenses 44,079 Other Gaming Expenses 15,000 -------- Total 59,079 Line 4b - Expenses Included on Form 990 but not on Line 1 Non-operating Income/Expense Re-class 951,259 |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | TEI Fundraiser | NameOfEvent1 |
| Gross Receipts Event1 | 78420 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 71230 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 7190 | GrossRevenueEvent1 |
| Non Cash Prizes Event1 | 10983 | NonCashPrizesEvent1 |
| Food And Beverage Event1 | 3356 | FoodAndBeverageEvent1 |
| Entertainment Event1 | 632 | EntertainmentEvent1 |
| Other Direct Expenses Event1 | 29108 | OtherDirectExpensesEvent1 |
| Name Of Event2 | Reunion | NameOfEvent2 |
| Gross Receipts Event2 | 12000 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 12000 | CharitableContributionsEvent2 |
| Total Number Of Other Events | 0 | TotalNumberOfOtherEvents |
| Gross Receipts Total | 90420 | GrossReceiptsTotal |
| Charitable Contributions Total | 83230 | CharitableContributionsTotal |
| Gross Revenue Total Events | 7190 | GrossRevenueTotalEvents |
| Non Cash Prizes Total Events | 10983 | NonCashPrizesTotalEvents |
| Food And Beverage Total Events | 3356 | FoodAndBeverageTotalEvents |
| Entertainment Total Events | 632 | EntertainmentTotalEvents |
| Other Direct Expenses Total Events | 29108 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 44079 | DirectExpenseSummaryEvents |
| Net Income Summary | -36889 | NetIncomeSummary |
Gaming Information GamingInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteer Labor Bingo | false | VolunteerLaborBingo |
| Volunteer Labor Pull Tabs | false | VolunteerLaborPullTabs |
| Gross Revenue Other Gaming | 45000 | GrossRevenueOtherGaming |
| Other Direct Expenses Other Gaming | 15000 | OtherDirectExpensesOtherGaming |
| Volunteer Labor Other Gaming | false | VolunteerLaborOtherGaming |
| Gross Revenue Total Gaming | 45000 | GrossRevenueTotalGaming |
| Other Direct Expenses Total Gaming | 15000 | OtherDirectExpensesTotalGaming |
| Direct Expense Summary Gaming | 15000 | DirectExpenseSummaryGaming |
| Net Gaming Income Summary | 30000 | NetGamingIncomeSummary |
| Field | Value | IRS element (for citing) |
|---|---|---|
| States Where Gaming Conducted | PA | StatesWhereGamingConducted |
| Licensed | true | Licensed |
| License Suspended Etc | false | LicenseSuspendedEtc |
| Gaming With Nonmembers | false | GamingWithNonmembers |
| Member Of Other Entity | false | MemberOfOtherEntity |
| Percentage Of Gaming Own Facility | 1.00000 | PercentageOfGamingOwnFacility |
| Name Of Gaming Rec Keeper Person | Lynne Corboy | NameOfGamingRecKeeperPerson |
Address Of Gaming Rec Keeper US AddressOfGamingRecKeeperUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8360 Old York Road | AddressLine1 |
| City | Elkins Park | City |
| State | PA | State |
| ZIP Code | 19027 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contract With3rd Party For Gam Rev | false | ContractWith3rdPartyForGamRev |
| Gaming Manager Name Person | Lynne Corboy | GamingManagerNamePerson |
| Gaming Manager Compensation | 0 | GamingManagerCompensation |
| Gaming Manager Services Provided | OvBrsees special event functions | GamingManagerServicesProvided |
| Gaming Manager Is Director Officer | X | GamingManagerIsDirectorOfficer |
| Charitable Distrib Required | false | CharitableDistribRequired |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | Scholarships | TypeOfGrant |
| Amount Of Cash Grant | 124695 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Use of Grant Funds Inside U.S. | Identifier |
| Return Reference | Schedule I, Part I, Line 2 | ReturnReference |
| Explanation | The Pennsylvania College of Optometry Foundation provides scholarships to students matriculating at the Pennsylvania College of Optometry Foundation; therefore, all funds granted are used to defray the cost of tuition and no further monitoring of the grants is required. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | Dr Thomas L Lewis | NamePerson |
| Title | President | Title |
| Base Compensation Filing Org | 0 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 289960 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 150000 | BonusRelatedOrgs |
| Other Compensation Filing Org | 0 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 17000 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 0 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 23907 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 0 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 9927 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 0 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 490794 | TotalCompensationRelatedOrgs |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| TAX-EXEMPT BONDS | Form 990, Part IV, Line 24A | THE PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION IS A CO-OBLIGOR ON THE TAX-EXEMPT BONDS ISSUED TO ITS PARENT ORGANIZATION, SALUS UNIVERSITY. SINCE THE FOUNDATION HOLDS THE UNIVERSITY'S ENDOWMENT, IT WAS DETERMINED THAT THE FOUNDATION SHOULD BE A CO-OBLIGOR ON THE BOND. |
| Delegation of Control over Management Duties | Form 990, Part VI, Line 3 | The Foundation has delegated the management responsibilities over its considerable investments to the Finance Committee of its parent organization, Salus University. The Finance committee has, in turn, hired Hirtle Callaghan, an independent consulting firm, to manage the Foundation's investments. |
| Form 990 Review Process | Form 990, Part VI, Line 11b | The Foundation'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 and the entire Board of Directors 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 filing with the Internal Revenue Service. |
| Conflict of Interest Policy Monitoring & Enforcement | Form 990, Part VI, Line 12c | Each officer, director, trustee and key employee of the Foundation is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the Foundation. The Foundation 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. |
| WHISTLEBLOWER/DOCUMENT RETENTION POLICIES | Form 990, Part VI, Lines 13 & 14 | The Foundation Operates under the Whistleblower and Document Retention policies of its related organization, Salus University. |
| Process for Determining Compensation | Form 990, Part VI, Line 15b | The Foundation does not compensate any of the individuals reported in Part VII of the Form 990; all compensation is paid by a related organization, Salus University. The processes for determining the compensation of those individuals is reported on that organization's annual Form 990. The committee which oversees the compensation of the president is currently the Executive Committee of the board. |
| How Documents are Made Available to the Public | 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. |
| FORM 990, PART XI, LINE 5 | Reconciliation of Net Assets | AFS Difference 115,551 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|---|
| Salus University | ||||||||||
| 8360 Old York Road | Elkins Park | PA | 19027 | 231413680 | Education | PA | 501(c)(3) | 02 | NA | false |
| Pennsylvania Ear Institute | ||||||||||
| 8360 Old York Road | Elkins Park | PA | 19027 | 202888384 | Clinical Edu | PA | 501(c)(3) | 11 | Salus | false |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | true | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | true | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | true | SharingOfFacilities |
| Sharing Of Paid Employees | true | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | true | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | true | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (3 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| Salus University | ||
| l | 255000 | FMV |
| Salus University | ||
| o | 748899 | FMV |
| Salus University | ||
| q | 124695 | FMV |
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