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FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE COLLEGE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE, AS AMENDED. THE COLLEGE BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER REVENUES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XI, LINE 2D POST RETIREMENT BENEFIT OBLIGATION $ 124,673 PROVISION FOR DOUBTFUL PLEDGES $ (306,887) TOTAL $ (182,214) OTHER REVENUES INCLUDED ON FORM 990 NOT INCLUDED IN FINANCIAL STATEMENTS PART XI, LINE 4B BLACK & WHITE EVENT $ (213,724) OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT INCLUDED ON FORM 990 PART XII, LINE 2D BLACK & WHITE EVENT $ 213,724 true true true true true true true false false false false false false false false true false true NONDISCRIMINATORY POLICY LINE 3 A COPY OF THE COLLEGE'S RACIAL NONDISCRIMINATION POLICY IS INCLUDED IN ALL COLLEGE PUBLICATIONS. GOVERNMENT AID OR ASSISTANCE LINE 6A THE COLLEGE PARTICIPATES IN VARIOUS GOVERNMENTAL ASSISTANCE PROGRAMS INCLUDING THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND FEDERAL WORK STUDY PROGRAMS. 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AMOUNTS ARE RECONCILED TO THE STUDENT ACCOUNT SYSTEM TO ENSURE FUNDS ARE PROPERLY DISBURSED. EXPENDITURES PART I, LINE 3, COLUMN (F) EXPENDITURES IN COLUMN (F) ARE BASED ON THE ACCRUAL METHOD OF ACCOUNTING. X true RUFFALOCODY 65 KIRKWOOD N RD CEDAR PHONE SOLICIT. false 618454 422437 196017 618454 422437 196017 RI BLACK & WHITE 737512 629336 108176 68020 100716 44988 0 737512 629336 108176 68020 100716 44988 213724 -105548 FUNDRAISING ACTIVITIES PART I, LINE 2 PROVIDENCE COLLEGE HAS A WRITTEN AGREEMENT WITH RUFFALOCODY, A PROFESSIONAL FUNDRAISER, WHEREBY RUFFALOCODY PROVIDED TELEMARKETING SERVICES, INCLUDING PHONATHON MAILINGS. THE AGREEMENT CALLS FOR A MONTHLY PAYMENT OF AN AGREED UPON FEE, PLUS REIMBURSEMENT OF COSTS SUCH AS PRINTING, POSTAGE, SUPPLIES, ETC. RUFFALOCODY BILLS PROVIDENCE COLLEGE SEPARATELY FOR THESE COSTS. 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THE SR VP OF FINANCE/CFO AND THE VP OF STUDENT AFFAIRS WERE PROVIDED WITH OCCASIONAL HOUSING IN COLLEGE OWNED PROPERTY. THE HOUSING WAS TAXABLE AND INCLUDED IN THEIR FORM W-2. THE COLLEGE'S PRESIDENT, REV. BRIAN J. SHANLEY, OP, NATHAN LEAMAN, HOCKEY COACH, DAVID WEGRZYN, VICE PRESIDENT INSTITUTIONAL ADVANCEMENT, AND EDWARD COOLEY, BASKETBALL COACH, WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID BY THE COLLEGE FOR NATHAN LEAMAN, DAVID WEGRZYN, AND EDWARD COOLEY ARE TAXABLE TO THE INDIVIDUALS AND INCLUDED IN THEIR FORM W-2. THESE AMOUNTS HAVE BEEN REPORTED IN FORM 990, PART VII AND ON SCHEDULE J. SEVERANCE PAYMENT PART I, LINE 4A THE FOLLOWING INDIVIDUALS RECEIVED MONTHLY SEVERANCE PAYMENTS. THE TOTAL AMOUNTS RECEIVED ARE PROVIDED BELOW: KENO DAVIS $ 525,000 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B EDWARD COOLEY AND NATHAN LEAMAN PARTICIPATED IN A 457(F) PLAN BEGINNING APRIL 2013 AND MAY 2013, RESPECTIVELY. 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REBATE COMPUTATION DATE PART IV, LINE 2C BOND ISSUE C: APRIL 30, 2013 BOND ISSUE D: SEPTEMBER 17, 2012 EDWARD A COOLEY HIGH COMP. EMPLOYEE PERSONAL LOAN X 400000 366667 false true true 366667 NA N/A 39698 TUITION TUITION REMISSION STATE STREET MAUREEN CORCORAN, TRUSTEE 124398 ORDINARY BUSINESS false X 34 1315711 SELLING PRICE X piano 1 66700 FAIR MARKET VALUE X MISCELLANEOUS 22 100833 FAIR MARKET VALUE 0 false true false CONTRIBUTIONS PART I, COLUMN (B) THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. ORGANIZATION'S MISSION PART III, LINE 1 PROVIDENCE COLLEGE IS A CATHOLIC, DOMINICAN, LIBERAL ARTS INSTITUTION OF HIGHER EDUCATION AND A COMMUNITY COMMITTED TO ACADEMIC EXCELLENCE IN PURSUIT OF THE TRUTH, GROWTH IN VIRTUE, AND SERVICE OF GOD AND NEIGHBOR. HISTORY PROVIDENCE COLLEGE WAS FOUNDED IN 1917 BY THE DOMINICAN FRIARS AT THE INVITATION OF BISHOP HARKINS TO PROVIDE A CATHOLIC EDUCATION IN THE ARTS AND SCIENCES. FAITH AND REASON PROVIDENCE COLLEGE IS CONFIDENT IN THE APPEAL OF REASON, BELIEVES THAT HUMAN BEINGS ARE DISPOSED TO KNOW THE TRUTH, AND TRUSTS IN THE POWER OF GRACE TO ENLIGHTEN MINDS, OPEN HEARTS, AND TRANSFORM LIVES. PROVIDENCE COLLEGE MAINTAINS THAT THE PURSUIT OF TRUTH HAS INTRINSIC VALUE, THAT FAITH AND REASON ARE COMPATIBLE AND COMPLEMENTARY MEANS TO ITS DISCOVERY, AND THAT THE SEARCH FOR TRUTH IS THE BASIS FOR DIALOGUE WITH OTHERS AND CRITICAL ENGAGEMENT WITH THE WORLD. ACADEMIC EXCELLENCE PROVIDENCE COLLEGE IS COMMITTED TO ACADEMIC EXCELLENCE, AND HOLDS ITSELF TO THE HIGHEST STANDARDS IN TEACHING, LEARNING, AND SCHOLARSHIP. ITS CORE CURRICULUM ADDRESSES KEY QUESTIONS OF HUMAN EXISTENCE, INCLUDING LIFE'S MEANING AND PURPOSE, AND STRESSES THE IMPORTANCE OF MORAL AND ETHICAL REASONING, AESTHETIC APPRECIATION, AND UNDERSTANDING THE NATURAL WORLD, OTHER CULTURES, AND DIVERSE TRADITIONS. PROVIDENCE COLLEGE HONORS ACADEMIC FREEDOM, PROMOTES CRITICAL THINKING AND ENGAGED LEARNING, AND ENCOURAGES A PEDAGOGY OF DISPUTED QUESTIONS. COMMUNITY AND DIVERSITY PROVIDENCE COLLEGE SEEKS TO REFLECT THE RICH DIVERSITY OF THE HUMAN FAMILY. FOLLOWING THE EXAMPLE OF ST. DOMINIC, WHO EXTENDED A LOVING EMBRACE TO ALL, IT WELCOMES QUALIFIED MEN AND WOMEN OF EVERY BACKGROUND AND AFFIRMS THE GOD-GIVEN DIGNITY, FREEDOM, AND EQUALITY OF EACH PERSON. PROVIDENCE COLLEGE PROMOTES THE COMMON GOOD, THE HUMAN FLOURISHING OF EACH MEMBER OF THE CAMPUS COMMUNITY, AND SERVICE OF NEIGHBORS NEAR AND FAR. VERITAS AND PROVIDENCE PROVIDENCE COLLEGE BRINGS THE EIGHT-HUNDRED-YEAR-OLD DOMINICAN IDEAL OF VERITAS TO THE ISSUES AND CHALLENGES OF TODAY. IT SEEKS TO SHARE THE FRUITS OF CONTEMPLATION IN AN INCREASINGLY GLOBAL AND DIVERSE SOCIETY, AND TO PRAISE AND BLESS ALL THAT IS GOOD AND VITAL IN HUMAN ENDEAVORS. PROVIDENCE COLLEGE SUPPORTS THE DOMINICAN MISSION OF PREACHING THE GOSPEL OF JESUS CHRIST TO A NEW GENERATION OF STUDENTS AND HELPING THEM DISCOVER GOD'S PROVIDENCE IN THEIR LIVES. 12-MEMBER CORPORATION PART VI, SECTION A, LINES 6-8B THE 12-MEMBER CORPORATION IS THE BODY THAT HAS THE ULTIMATE AUTHORITY TO EXERCISE CONTROL OVER OWNERSHIP OF PROPERTY, TO PROMULGATE AND AMEND THE BY-LAWS, TO ACCEPT OR REJECT THE RECOMMENDATION FOR ELECTION TO THE PRESIDENCY OF THE COLLEGE BY THE BOARD OF TRUSTEES, AND TO ELECT MEMBERS OF THE CORPORATION AND OF THE BOARD OF TRUSTEES. THE CORPORATION IS COMPRISED OF FOUR EX OFFICIO MEMBERS AND EIGHT OTHER INDIVIDUALS ELECTED BY THE CORPORATION, FOUR DOMINICAN FRIARS AND FOUR LAY PERSONS. THE EX OFFICIO MEMBERS ARE: THE PROVINCIAL OF THE PROVINCE OF ST. JOSEPH, THE ELECTED LEADER OF THE DOMINICAN ORDER FOR THE EASTERN REGION OF THE UNITED STATES; THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF PROVIDENCE; THE PRESIDENT OF THE COLLEGE; AND THE CHAIRMAN OF THE BOARD OF TRUSTEES. THE TERMS OF OFFICE OF THE BISHOP, THE PRESIDENT, THE PROVINCIAL AND THE CHAIRMAN OF THE BOARD OF TRUSTEES ARE CO-TERMINUS WITH THE RESPECTIVE INCUMBENCY OF EACH. THE TERM OF ALL OTHER MEMBERS IS FOUR YEARS. FORM 990 REVIEW PROCESS PART VI, SECTION B, LINE 11A THE FORM 990 WILL BE COMPLETED ANNUALLY AND COPIES WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE. ALL MEMBERS OF THE AUDIT COMMITTEE WILL REVIEW THE FORM 990 WITH THE COLLEGE'S PRESIDENT, EXECUTIVE VICE PRESIDENT/TREASURER, SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, AND CONTROLLER. AT THE DISCRETION OF THE AUDIT COMMITTEE CHAIR, THE THIRD PARTY PREPARER OF THE FORM 990 MAY BE ASKED TO ATTEND. ANY NECESSARY CHANGE, IDENTIFIED THROUGH THE REVIEW PROCESS, WILL BE MADE TO THE ORIGINALLY SUBMITTED FORM 990. THIS UPDATED VERSION OF THE FORM 990 WILL BE CONSIDERED APPROVED FOR FILING. IT WILL BE SIGNED BY THE SR. VICE PRESIDENT FOR FINANCE & BUSINESS/CFO, DATED, AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED, VIA POSTING ON THE TRUSTEES ONLY AREA OF THE COLLEGE WEBSITE, TO ALL OF THE OFFICERS AND TRUSTEES BEFORE THE RETURN IS FILED. CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINE 12C ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL CONFLICT OF INTEREST DISCLOSURE FORMS ARE REVIEWED BY THE COLLEGE'S GENERAL COUNSEL, THE CHAIRMEN OF THE AUDIT COMMITTEE, AND A DESIGNEE OF THE CORPORATION. COMPENSATION POLICY PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE POLICIES, PROGRAMS, AND TOTAL COMPENSATION FOR EXECUTIVES TO ENSURE COMPLIANCE WITH FEDERAL REGULATIONS CONCERNING EXECUTIVE COMPENSATION IN NON-PROFIT ORGANIZATIONS. COMPETITIVE SURVEY DATA IS COLLECTED, ANALYZED, AND SUMMARIZED BY THE ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES AND IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SALARIES ARE BASED UPON THE EXECUTIVE'S SCOPE, SIZE, AND COMPLEXITY OF RESPONSIBILITIES AS WELL AS PERFORMANCE AGAINST GOALS AND OBJECTIVES. BENEFITS FOR EXECUTIVES ARE THE SAME AS THOSE OFFERED TO ALL COLLEGE EMPLOYEES. THIS PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING: PRESIDENT, EVP/TREASURER, VP FOR STUDENT AFFAIRS, SR VP OF ACADEMIC AFFAIRS/PROVOST, VP AND GENERAL COUNSEL, SR VP FOR FINANCE/CFO, AND SR VP FOR INSTITUTIONAL ADVANCEMENT. THIS PROCESS IS DONE ANNUALLY. PART VI, SECTION B, LINE 15B PROVIDENCE COLLEGE'S PRESIDENT AND EVP/TREASURER ARE MEMBERS OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER. THEY ARE PROVIDED ON CAMPUS HOUSING AND HEALTHCARE BENEFITS BY THE COLLEGE. THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS SET BY THE PRESIDENT OF THE COLLEGE. INDEPENDENT COMPENSATION COMPARABILITY SURVEYS ARE USED PERIODICALLY IN SETTING COMPENSATION. THE COLLEGE COMPLIES WITH THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION STANDARD, AS OUTLINED IN TREASURY REGULATIONS SECTION 53.4958-6: (1) EXECUTIVE COMPENSATION IS AUTHORIZED BY AN INDEPENDENT COMMITTEE OF THE BOARD OF DIRECTORS, (2) THE COMMITTEE AUTHORIZING EXECUTIVE COMPENSATION OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING DETERMINATIONS, AND (3) THE COMMITTEE ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATIONS CONCURRENTLY WITH MAKING THE DETERMINATIONS. PUBLIC DISCLOSURE POLICY PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE WEBSITE. THE COLLEGE COMMUNITY (FACULTY, STAFF, AND STUDENTS) HAVE ACCESS TO THE CONFLICT OF INTEREST POLICY THROUGH THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO ANYONE UPON REQUEST. THE FORM 990 IS POSTED ON THE INTERNET AT WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS OR FUND BALANCES PART XI, LINE 9 POST RETIREMENT BENEFIT OBLIGATION $ 124,673 PROVISION FOR DOUBTFUL PLEDGES $ (306,887) TOTAL $ (182,214) CHARITABLE REMAINDER TRUSTS (2) INVESTING RI PC TRUST true CHARITABLE PERPETUAL TRUST (1) INVESTING RI PC TRUST true false false true false false false false false false false false false false false false false false true CHARITABLE REMAINDER TRUST C 369348 FMV CHARITABLE REMAINDER TRUST S 730652 FMV