2014-05-15T06:38:39-05:00 2013-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2012-07-01 060776644 SACRED HEART UNIVERSITY INCORPORATED SACR 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 MICHAEL J KINNEY 2033717872 2014-05-14 1 ELIZABETH SOLECKI P00235171 8605614000 2012 2015-11-30 17:44:51Z JOHN PETILLO 5151 PARK AVENUE FAIRFIELD CT 06825 209842972 0 X WWW.SACREDHEART.EDU X 1963 CT THE UNIVERSITY IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING OFFERING UNDERGRADUATE AND GRADUATE DEGREES, AS WELL AS CONTINUING EDUCATION IN A VARIETY OF DISCIPLINES, WITH A COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION. 19 18 3426 150 587458 -257680 12935689 12436911 180430118 188510887 3092472 8632779 -106244 -131821 196352035 209448756 39371382 41250975 0 0 75414936 78936933 0 0 1850434 64308691 68244544 179095009 188432452 17257026 21016304 333780638 376276478 153264596 167684803 180516042 208591675 X AT SACRED HEART UNIVERSITY, WE NOT ONLY PREPARE STUDENTS FOR THE FUTURE, BUT ALSO GIVE THEM A DEEPER APPRECIATION OF WHO THEY ARE AND ALL THEY CAN BE. THROUGH OUR DISTINCTIVE MISSION AND COMMITMENT TO LEADERSHIP IN CATHOLIC HIGHER EDUCATION, WE HELP STUDENTS HELP OTHERS AND, TOGETHER, WE MAKE A DIFFERENCE IN THE WORLD. THE SHU MISSION: THE PURSUIT OF TRUTH AND KNOWLEDGE AS INTRINSICALLY VALUABLE; COMMITMENT TO EXCELLENCE IN ALL THAT WE DO; RESPONSIBILITY FOR THE COMMON GOOD OF SOCIETY; RECOGNITION OF THE DIGNITY AND WORTH OF EVERY HUMAN BEING; PRESERVATION, TRANSMISSION AND DEVELOPMENT OF THE LIBERAL ARTS AND CATHOLIC INTELLECTUAL TRADITION. OUR VISION IS TO SHAPE GRADUATES KNOWLEDGEABLE OF SELF, ROOTED IN FAITH, EDUCATED IN MIND, COMPASSIONATE IN HEART, RESPONSIVE TO SOCIAL AND CIVIC OBLIGATIONS AND ABLE TO RESPOND TO AN EVER-CHANGING WORLD. 0 0 63107225 156937376 SACRED HEART CONTINUES TO OFFER A WIDE RANGE OF UNDERGRADUATE AND GRADUATE PROGRAMS. REGARDLESS OF WHAT UNDERGRADUATE PROGRAM OR GRADUATE STUDIES ARE CHOSEN, OUR FOCUS ON ACADEMIC OPPORTUNITIES - ROOTED IN THE CATHOLIC INTELLECTUAL TRADITION AND THE PRINCIPLES OF ENGAGED LEARNING - CREATES AN ABSORBING, CUSTOMIZED EDUCATIONAL EXPERIENCE FOR EACH STUDENT. 41250975 41250975 0 SACRED HEART UNIVERSITY'S STUDENT FINANCIAL ASSISTANCE OFFICE IS COMMITTED TO HELPING STUDENTS AND THEIR FAMILIES FIND THE MOST AFFORDABLE OPTIONS AVAILABLE FOR ATTENDING COLLEGE. FOR FULL-TIME UNDERGRADUATE STUDENTS, THERE ARE BASICALLY TWO TYPES OF FINANCIAL ASSISTANCE: FIRST, TRADITIONAL MERIT OR NEED-BASED AID; AND SECOND, A RANGE OF OTHER OPTIONS OPEN TO STUDENTS AND THEIR FAMILIES WHETHER THEY QUALIFY FOR TRADITIONAL AID OR NOT. SEVERAL FINANCIAL ASSISTANCE OPTIONS ARE ALSO AVAILABLE TO QUALIFIED PART-TIME UNDERGRADUATE STUDENTS AND GRADUATE STUDENTS. 31830116 0 2724343 SACRED HEART UNIVERSITY IS COMMITTED TO SERVING THE NEEDS OF ITS DIVERSE STUDENT POPULATION BY OFFERING AN ARRAY OF SERVICES DESIGNED TO ENSURE STUDENT SUCCESS. THESE SERVICES, PROVIDED THROUGH ACADEMIC ADVISING, STUDENT LIFE, CAREER SERVICES, JANDRESEVITS LEARNING CENTER, THE OFFICE OF SPECIAL SERVICES, AND THE WELLNESS CENTER, AIM TO SERVE STUDENTS IN A MANNER THAT IS CONSISTENT WITH THE MISSION. THE UNIVERSITY ALSO PROMOTES ACTIVE ENGAGED LEARNING OUTSIDE OF THE CLASSROOM. OUR ATHLETICS PROGRAMS ARE ABOUT MORE THAN JUST COMPETITION AND WINNING THEY ARE BUILT ON A LONGSTANDING TRADITION OF HELPING OUR STUDENT-ATHLETES REALIZE THEIR POTENTIAL, STRENGTHEN THEIR CHARACTER, AND EMPOWER THEIR MINDS WHILE DEVELOPING SELF-CONFIDENCE AND VALUABLE LEADERSHIP SKILLS. 29402692 28268710 OTHER GENERAL AND AUXILIARY SERVICES. 29402692 28268710 165591008 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 624 0 1 3426 1 1 1 1 EI LU 0 0 0 1 1 0 0 0 1 0 X 19 18 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MICHAEL J KINNEY 2033717872 5151 PARK AVENUE FAIRFIELD CT 06825 TERESA M RESSEL 1.00 X X 0 0 0 MARY-ANN BUNTING 1.00 X 0 0 0 WILLIAM E MITCHELL 1.00 X 0 0 0 JAMES T MORLEY JR 1.00 X X 0 0 0 REV MSGR WILLIAM A GENUARIO JCD 1.00 X 0 0 0 ROBERT J MATURA 1.00 X 0 0 0 LINDA E MCMAHON 1.00 X 0 0 0 LOIS SCHINE 1.00 X 0 0 0 JEFFREY A SONNENFELD 1.00 X 0 0 0 FRANK R MARTIRE 1.00 X X 0 0 0 ROBERT L CORCORAN 1.00 X 0 0 0 CHRISTOPHER K MCLEOD 1.00 X X 0 0 0 ROSANNE BADOWSKI 1.00 X 0 0 0 VINCENT MAFFEO 1.00 X 0 0 0 NORBERT BECKER 1.00 X 0 0 0 PATRICK J CAROLAN MD 1.00 X 0 0 0 REV ROBERT M KINNALLY 1.00 X 0 0 0 JOHN J PETILLO 35.00 X X 551751 0 34369 MURRAY D MARTIN 1.00 X 0 0 0 MICHAEL J KINNEY 35.00 X 277789 0 30667 MICHAEL LAROBINA ESQ 35.00 X 178618 0 14712 LAURA NIESEN DE ABRUNA 35.00 X 291189 0 24266 JAMES BARQUINERO 35.00 X 250590 0 26943 ROBERT M HARDY 35.00 X 193329 0 16709 MEGAN ROCK 35.00 X 226002 0 22328 ANTHONY J CERNERA 35.00 X 348033 0 24343 PATRICIA W WALKER 35.00 X 205022 0 16814 THOMAS V FORGET 35.00 X 219576 0 21782 DAVID COPPOLA 35.00 X 190831 0 27754 PHILIP MCCABE 35.00 X 205336 0 13901 3138066 0 274588 93 0 1 0 CHARTWELL'S HIGHER EDUCATION C/O BANK OF AMERICA PO BOX 91337 CHICAGO IL 606931853 FOOD SERVICES 7978705 DELTAK EDU INC 1415 WEST 22ND STREET OAK BROOK IL 60523 ONLINE EDUCATION SERVICES 2756748 SASAKI ASSOCIATES INC 64 PLEASANT STREET WATERTOWN MA 02472 ARCHITECTURAL SERVICES 2039134 EASTERN LAND MANAGEMENT INC 142 HAMILTON AVENUE STAMFORD CT 06902 COMMERCIAL LANDSCAPE MANAGEMENT 833777 NATIONAL PUBLIC RADIO PO BOX 79540 BALTIMORE MD 21279 BROADCASTING 718755 92 730344 3179759 8526808 277130 12436911 TUITION AND FEES 611310 156937376 156937376 AUXILIARY ACTIVITIES 611310 27425461 27425461 OTHER INCOME 900099 2346250 1805634 540616 PITT CENTER & ATHLETICS 611310 1801800 1761958 39842 188510887 2235303 2235303 109691 135543 -25852 -25852 7000 -32852 6397476 0 6397476 6397476 6397476 152704 730344 258673 -105969 -105969 209448756 187930429 587458 8493958 41250975 41250975 2085168 572949 1265836 246383 741656 238763 502893 59560699 52764824 5834623 961252 3407059 2900462 437737 68860 8835713 7860203 845695 129815 4306638 3666282 553314 87042 509322 29951 479371 178185 178185 852907 852907 17460639 15374962 1957250 128427 895532 348414 546593 525 3173608 2721774 329855 121979 521317 407875 113369 73 10501971 9749135 735894 16942 3838502 3478316 317846 42340 540807 483264 52543 5000 4542017 3245387 1296630 11491787 10367205 1124582 1964518 857291 1107227 CONTRACT SERVICES 5750701 4441519 1299682 9500 PURCHASING 2668548 2207872 457454 3222 MISCELLANEOUS 2202853 1773474 429525 -146 DUES AND SUBSCRIPTIONS 1151330 850111 271999 29220 188432452 165591008 20991010 1850434 13639305 28971266 3797754 3991787 1566922 1425636 317769889 122701141 181251872 195068748 112572913 124121845 20951872 22697196 333780638 376276478 18270628 18752802 8377567 21342367 114334341 110906865 11973533 16388674 308527 294095 153264596 167684803 X 157036995 182069579 11351507 13921406 12127540 12600690 180516042 208591675 333780638 376276478 X 21016304 7038130 21200 -1 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: SACRED HEART UNIVERSITY MAY INDIRECTLY INCUR LOBBYING EXPENSE THROUGH DUES PAID TO OTHER ORGANIZATIONS. 0 624765 X 0 112727911 1784436 15742517 5122312 852907 124279645 108336892 5514054 54371 521859 655547 112727911 81912232 6318543 21349512 636823 606572 108336892 67039061 6641974 8570742 339545 81912232 75715465 5501555 -12772805 474106 569523 361525 67039061 0.84000 0.16000 0.00000 0 0 17152580 17152580 155409811 46022035 109387776 74837205 30934958 43902247 43682677 36447124 7235553 26687616 9297024 17390592 195068748 LAND HELD FOR SALE 2700000 INTEREST IN SPLIT-INTEREST AGREEMENTS 228674 FUNDS HELD BY BOND TRUSTEE 14715501 OTHER ASSETS 3036339 PREPAID EXPENSES 2016682 22697196 GOVERNMENT GRANTS REFUNDABLE - STUDENT LOANS 294095 294095 X 174820152 7038130 42928 -42103878 -35022820 209842972 -394216 -394216 209448756 146744519 21728 394221 415949 146328570 42103882 42103882 188432452 PART III, LINE 4: WORKS OF ART ARE CONTRIBUTED TO THE UNIVERSITY FROM VARIOUS DONORS. THE SCHOOL DISPLAYS THEM IN VARIOUS LOCATIONS ACROSS THE UNIVERSITY FOR PUBLIC VIEWING. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY USES THE FUNDS FOR STUDENT SCHOLARSHIPS, TO PROVIDE EDUCATIONAL AND SUPPORT SERVICES, AND TO MAINTAIN AND EXPAND THE UNIVERSITY CAPITAL INFRASTRUCTURE IN ORDER TO SUSTAIN THE UNIVERSITY'S FINANCIAL STABILITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED. ACCORDINGLY, IT 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 POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR FISCAL 2013 OR 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -41,250,975. INVESTMENT FEES -852,907. MISC. ADJUSTMENT 4. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -258,673. RENTAL EXPENSES -135,543. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 258,673. RENTAL EXPENSES 135,543. MISC. ADJUSTMENT 5. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 41,250,975. INVESTMENT FEES 852,907. 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 THE UNIVERSITY IS COMMITTED TO FULLFILLING ITS MISSION WITHOUT DISCRIMINATION ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN STATUS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 SACRED HEART UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION. THE UNIVERSITY RECEIVES PELL GRANTS, SEOG GRANTS AND FEDERAL WORK-STUDY FUNDS WHICH ARE FINANCIAL AID PROGRAMS. THE UNIVERSITY ALSO RECEIVES STATE FUNDS AND PROCESSES AID ACCORDING TO THE CRITERIA OF STATE GOVERNMENT AGENCIES. PRIMARY STATE FUNDING IS FROM THE CONNECTICUT DEPARTMENT OF HIGHER EDUCATION, OTHER STATES INCLUDE; DELAWARE, MASSACHUSETTS, PENNSYLVANIA, RHODE ISLAND AND VERMONT. THE STATES ARE SUBJECT TO CHANGE EACH YEAR DEPENDING ON WHICH STATES OFFER ASSISTANCE TO THEIR RESIDENTS ATTENDING AN OUT OF STATE INSTITUTION. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - 2 6 PROGRAM SERVICES EDUCATIONAL 1274503 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES/MISSION RELATED TRIPS EDUCATIONAL 159276 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL 48800 2 6 0 0 2 6 1482579 0 1482579 0 0 0 0 0 1 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: IRELAND: SACRED HEART UNIVERSITY OFFERS STUDENTS THE OPPORTUNITY TO DELVE INTO IRISH CULTURE IN THE HEART OF THE IRISH-SPEAKING DINGLE GAELTACHT REGION. STUDENTS STUDY IN IRISH SURROUNDINGS AND LIVE THE IRISH EXPERIENCE THROUGH HANDS-ON SEMINARS LED BY ACCOMPLISHED SCHOLARS AND LOCAL EXPERTS. WHAT DEVELOPS IS A PROFOUND UNDERSTANDING OF CELTIC CULTURE, AS WELL AS A GREATER APPRECIATION OF DIVERSE SOCIETIES. LUXEMBOURG: THE JOHN F. WELCH COLLEGE OF BUSINESS OFFERS AN MBA CURRICULUM THAT EMPHASIZES A GLOBAL BUSINESS EDUCATION. OUR LUXEMBOURG PROGRAMS FACILITATE A RICH LEARNING EXPERIENCE WITH A FACULTY MIX OF ACCOMPLISHED SCHOLARS AND EXPERIENCED BUSINESS EXECUTIVES FROM BOTH EUROPE AND THE US WHO TEACH IN AN APPLIED LEARNING ENVIRONMENT WITH REAL-WORLD BUSINESS CASE STUDIES AND PROJECTS. SACRED HEART UNIVERSITY OFFERS A VARIETY OF STUDY ABROAD OPPORTUNITIES AROUND THE WORLD FOR SACRED HEART AND VISITING STUDENTS - WITH PROGRAMMING THAT SUPPORTS A BROAD RANGE OF EDUCATIONAL, PROFESSIONAL, AND PERSONAL OBJECTIVES. THE UNIVERSITY OFFERS ON AVERAGE 12 FACULTY-LED PROGRAMS IN 10 COUNTRIES EACH YEAR. ON THESE PROGRAMS STUDENTS DEVELOP THE HABITS OF MIND, HEART, AND SPIRIT THAT WILL PREPARE THEM TO ENGAGE PURPOSEFULLY IN A GLOBAL WORLD. COURSES COMPLETED ON A SACRED HEART STUDY ABROAD PROGRAM MAY FULFILL GENERAL EDUCATION, ELECTIVE, OR MAJOR/MINOR CREDITS, ENABLING STUDENTS, REGARDLESS OF ACADEMIC PLAN, TO STUDY ABROAD AND GRADUATE ACCORDING TO THEIR INDIVIDUAL SCHEDULES. ADDITIONAL OPPORTUNITIES ARE ALSO AVAILABLE FOR CLINICAL CREDIT OR EXPERIENTIAL LEARNING. SACRED HEART UNIVERSITY SUPPORTS STUDY ABROAD PROGRAMMING BY IDENTIFYING, DEVELOPING, NURTURING, AND MAINTAINING A DIVERSE SET OF INTERNATIONAL PROGRAMS WITH A COMMITMENT TO QUALITY, SAFETY, AFFORDABILITY AND ACCESSIBILITY. PIONEER GOLF TOURNAMENT 240268 179583 60685 30578 28080 27405 DISCOVERY GALA 517555 460855 56700 2000 103294 3 125225 89906 35319 2990 22830 41496 883048 730344 152704 35568 50910 172195 258673 -105969 1 FEDERAL AID 327 376913 STATE AID 512 1586206 RESIDENCE HALL ASSISTANT WAIVERS AND AWARDS 81 633562 OTHER SCHOLARSHIPS WHICH ARE NEEDS BASED OR BASED ON ATHLETIC OR ACADEMIC TALENTS 3408 38654294 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE THREE AREAS OF FINANCIAL ASSISTANCE TO STUDENTS ARE LOANS, GRANTS, AND EMPLOYMENT (WORK-STUDY). THESE ARE GENERALLY AWARDED ON THE BASIS OF FINANCIAL NEED, DETERMINED BY AN ANALYSIS OF FAMILY INCOME AND ASSETS. SCHOLARSHIPS ARE ANOTHER SOURCE OF FINANCIAL ASSISTANCE, AWARDED ON THE BASIS OF ACADEMIC ACHIEVEMENT, ATHLETICS OR PERFORMING ARTS, COMMUNITY SERVICE OR LEADERSHIP. CRITERIA FOR MERIT BASED AWARDS MAY ALSO INCLUDE A FINANCIAL NEEDS REQUIREMENT. THE UNIVERSITY MONITORS THE AMOUNT ISSUED BY CALCULATING A COST OF ATTENDANCE, ASSESSING AN ESTIMATED FAMILY CONTRIBUTION (EFC), AND DERIVING A LEVEL OF FINANCIAL NEED. ONCE THE AMOUNT OF AID HAS BEEN DETERMINED FOR THE INDIVIDUAL, IT IS DISPERSED TO THE STUDENT'S ACCOUNT AND IS CONTROLLED BY THE BURSAR'S OFFICE. SEVERAL REPORTS/SURVEYS ARE USED ANNUALLY TO MONITOR THE DISTRIBUTION OF GRANT ASSISTANCE; FOR EXAMPLE, FISAP REPORT TO USDE, A-133 AUDIT, FEDERAL IPEDS REPORT, STATE ANNUAL AUDIT, AND VARIOUS SURVEYS THAT TYPICALLY USE INFORMATION FROM THE COMMON DATA SET (CDS). X X 1 1 X X X X X X 0 0 0 1 0 1 0 1 1 1 JOHN J PETILLO 318694 0 178750 0 54307 0 28063 0 6306 0 586120 0 0 0 MICHAEL J KINNEY 217683 0 54269 0 5837 0 22416 0 8251 0 308456 0 0 0 MICHAEL LAROBINA ESQ 169860 0 0 0 8758 0 13672 0 1040 0 193330 0 0 0 LAURA NIESEN DE ABRUNA 238590 0 24096 0 28503 0 21256 0 3010 0 315455 0 0 0 JAMES BARQUINERO 183730 0 45980 0 20880 0 19012 0 7931 0 277533 0 0 0 ROBERT M HARDY 151828 0 36791 0 4710 0 15209 0 1500 0 210038 0 0 0 MEGAN ROCK 182007 0 40029 0 3966 0 18101 0 4227 0 248330 0 0 0 ANTHONY J CERNERA 345657 0 0 0 2376 0 20000 0 4343 0 372376 0 0 0 PATRICIA W WALKER 162416 0 31233 0 11373 0 13276 0 3538 0 221836 0 0 0 THOMAS V FORGET 196009 0 20763 0 2804 0 16133 0 5649 0 241358 0 0 0 DAVID COPPOLA 146736 0 30815 0 13280 0 12925 0 14829 0 218585 0 0 0 PHILIP MCCABE 169820 0 31093 0 4423 0 13609 0 292 0 219237 0 0 0 PART I, LINE 1A THE UNIVERSITY FUNDS A GOLF CLUB MEMBERSHIP IN THE NAME OF AN OFFICER. THE MEMBERSHIP IS USED FOR UNIVERSITY EVENTS AND THE ENTERTAINMENT OF PROSPECTIVE DONORS AND CONTRIBUTORS. THE GOLF COURSE IS ALSO AVAILABLE FOR THE UNIVERSITY GOLF TEAM PRACTICES. PART I, LINE 3 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. THE DELIBERATION AND DECISION ARE CONTEMPORANEOUSLY DOCUMENTED. PART I, LINE 5 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING BUDGETED REVENUE GOALS. PART I, LINE 6 BONUSES ARE PAID TO SENIOR STAFF MEMBERS BASED IN PART ON ACHIEVING THE TRANSFER TO THE TRUSTEE RESERVES. SENIOR STAFF MEMBERS HAVE PERFORMANCE MEASURES FOR MANAGING THE UNIVERSITY TO MAINTAIN A BALANCED BUDGET. PART I, LINE 7 THERE ARE QUANTITATIVE MEASURES THAT ARE APPLIED IN DETERMINING BONUSES TO SENIOR STAFF MEMBERS. THE PRESIDENT AND THE BOARD HAVE DISCRETION TO ADJUST THE PAYMENTS FOR UNUSUAL CIRCUMSTANCES. IN ALL CASES, THESE PAYMENTS ARE REVIEWED WITH AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. PART I, LINE 8 LAURA NIESEN DE ABRUNA, PROVOST AND VICE PRESIDENT, IS IN HER INITIAL CONTRACT WITH THE UNIVERSITY. PART I, LINE 9: COMPENSATION FOR THE UNIVERSITY'S OTHER OFFICERS AND KEY EMPLOYEES IS ORIGINALLY DETERMINED BASED ON EXTERNAL MARKET AND INDUSTRY SURVEY AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. ANY ADDITIONAL RESPONSIBILITIES ARE ALSO CONSIDERED. THE DATA IS REVIEWED BY A COMMITTEE AUTHORIZED BY THE BOARD OF TRUSTEES. DECISIONS AND AUTHORIZATIONS ARE DOCUMENTED AND PLACED ON FILE WITH THE VICE PRESIDENT OF HUMAN RESOURCES. A SACRED HEART UNIVERSITY - SERIES F 060776644 20774LD93 2003-12-11 21700000 RESIDENTIAL HOUSING 0 0 0 B SACRED HEART UNIVERSITY - SERIES G 060776644 20774U7W9 2011-06-29 44158819 CONSTRUCTION PROJECTS, REFINANCE OF DEBT, (SEE PART VI) 0 0 0 C SACRED HEART UNIVERSITY - SERIES H 060776644 20774YFA0 2012-02-14 47740000 REFUNDING OF SERIES E BONDS ISSUED 12/1/98. (SEE PART VI) 0 0 0 A 2655000 21700000 433932 173254 21092814 2005 0 0 1 1 B 915000 44158819 11873235 875145 28223370 5000 2013 1 0 0 1 C 2115000 51549213 51548514 699 2012 1 0 1 1 A 0 0 1 1 0 0.00930 0.00000 0.00930 0 0 0 B 0 0 1 1 0 0.00020 0.00000 0.00020 0 0 0 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 0 B 0 C 0 SCHEDULE K PART IV, ARBITRAGE, LINE 2C DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SACRED HEART UNIVERSITY - SERIES F DATE THE REBATE COMPUTATION WAS PERFORMED: 02/11/2008 PART 1 B (F) CONTINUED - REFUNDING AND DEFEASANCE OF EARLIER BOND ISSUE SERIES C (ISSUE DATE 4/24/1996) PART 1 C (F) CONTINUED - SERIES H INCLUDED NO PROJECTS. ALL PROCEEDS WERE USED TO REFUND SERIES E ISSUE. PART III, LINE 9 - THE UNIVERSITY ADHERES TO WRITTEN POLICIES THAT REQUIRE THE TIMELY IDENTIFICATION OF VIOLATIONS AND THE DIRECTIVE FOR SELF-REMEDIATION. THESE POLICIES ARE BEING MODIFIED TO INCLUDE MORE SPECIFIC LANGUAGE REGARDING REMEDIATION. THE ANTICIPATED COMPLETION DATE OF THE REVISED POLICY IS JUNE 2014. PART V - THE UNIVERSITY ADHERES TO A WRITTEN POLICY TO ENSURE TIMELY IDENTIFICATION OF VIOLATIONS AND ADDRESSES ACTIONS FOR REMEDIATION THAT ENCOMPASSES THE INTERNAL REVENUE SERVICE VOLUNTARY CLOSING AGREEMENT PROGRAM, HOWEVER DOES NOT SPECIFICALLY IDENTIFY THE PROGRAM. THE UNIVERSITY IS CURRENTLY IN THE PROCESS OF MODIFYING ITS POLICIES AND PROCEDURES TO INCLUDE SPECIFIC LANGUAGE CONCERNING VCAP IF SELF-REMEDIATION IS NOT AVAILABLE. THE ANTICIPATED COMPLETION DATE OF THE REVISED POLICY IS JUNE 2014. X 5935 FMV X 1 1000 FMV X 14 223305 FMV X RAFFLE GIFTS 88 34417 FMV X OTHER SUNDRY 54 12473 FMV 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FOLLOWING IS THE SUCCESSION OF THE REVIEWS THAT OCCUR PRIOR TO FILING FORM 990. REVISIONS TO THE RETURN MAY BE MADE AT ANY POINT PRIOR TO FINAL FILING OF THE RETURN: THE RETURN IS PREPARED BY AN OUTSIDE PREPARER WITH THE ASSISTANCE OF THE ACCOUNTING STAFF. THE RETURN IS THEN INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES OF THE RETURN ARE PROVIDED TO THE PRESIDENT, EACH MEMBER OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, THE CONFLICT OF INTEREST POLICY IS REVIEWED. ALL KEY EMPLOYEES, TRUSTEES AND OFFICERS OF THE UNIVERSITY ARE REQUIRED TO REVIEW AND COMPLETE THE FORMS AS APPROPRIATE, SIGN, AND SUBMIT THE FORMS TO THEIR MANAGER OR BOARD SECRETARY FOR REVIEW AND SIGNATURE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE UNIVERSITY'S PRESIDENT/CEO IS DETERMINED THROUGH AN EXTENSIVE REVIEW OF THE JOB RESPONSIBILITIES AND EXPECTATIONS OUTLINED BY THE BOARD. THE COMPENSATION COMMITTEE THEN PERFORMS A REVIEW OF EXTERNAL MARKET AND INDUSTRY SURVEY AND STUDY DATA. CONSIDERATION OF ALL ADDITIONAL RESPONSIBILITIES ARE DETAILED OUT IN SPECIFIC LANGUAGE IN AN EMPLOYMENT CONTRACT APPROVED BY OUR LEGAL COUNSEL. FINAL SALARY RANGES ARE THEN DETERMINED BY THE COMPENSATION COMMITTEE. COMPENSATION FOR OTHER KEY EMPLOYEES IS DETERMINED BY THE EVALUATION OF THE JOB DESCRIPTION AGAINST EXTERNAL MARKET DATA AVAILABLE AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. CONSIDERATION OF ADDITIONAL RESPONSIBILITIES AND OTHER FACTORS MAY ALSO CONTRIBUTE IN DETERMINING COMPENSATION. COMPENSATION FOR THE UNIVERSITY'S OTHER OFFICERS AND KEY EMPLOYEES IS ORIGINALLY DETERMINED BASED ON EXTERNAL MARKET AND INDUSTRY SURVEY AS WELL AS THE REVIEW OF OUR INTERNAL EMPLOYEE DATA. ANY ADDITIONAL RESPONSIBILITIES ARE ALSO CONSIDERED. THE DATA IS REVIEWED BY A COMMITTEE AUTHORIZED BY THE BOARD OF TRUSTEES. DECISIONS AND AUTHORIZATIONS ARE DOCUMENTED AND PLACED ON FILE WITH THE VICE PRESIDENT OF HUMAN RESOURCES. FINAL ANNUAL SALARY RECOMMENDATIONS FROM THE PRESIDENT ARE SUBMITTED FOR REVIEW AND APPROVED BY THE HUMAN RESOURCES COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GUIDESTAR.ORG POSTS THE UNIVERSITY'S 990 FILING ANNUALLY. THIS MAKES THE 990 WIDELY AVAILABLE THROUGH THE INTERNET. COPIES ARE ALSO MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. GOVERNING DOCUMENTS AND THE ANNUAL FINANCIAL REPORT ARE MADE AVAILABLE TO BOARD MEMBERS AND IN COMPLIANCE WITH DEBT COVENANTS. UNIVERSITY EMPLOYEE AND FACULTY HANDBOOKS ARE POSTED ON THE UNIVERSITY WEBSITE. IN ADDITION, ALL STAFF AND FACULTY RECEIVE A HARD COPY. THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISTRIBUTED ONLY TO KEY EMPLOYEES, DIRECTORS, AND OFFICERS OF THE UNIVERSITY TO SIGN AND RETURN. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: MISC. -1. FORM 990, PART XII, LINE 2C: THE FINANCIAL STATEMENTS AND TAX RETURN ARE INDEPENDENTLY REVIEWED BY THE CONTROLLER, THE VICE PRESIDENT FOR FINANCE, AND THE SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. COPIES ARE THEN PROVIDED TO THE PRESIDENT AND MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND THE CORPORATE SECRETARY FOR THEIR REVIEW AND COMMENT PRIOR TO COMPLETION AND FILING.