2013-05-13T12:59:57-05:00 2012-06-30 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2011-07-01 050259080 SALVE REGINA UNIVERSITY SALV 4013412142 100 OCHRE POINT AVENUE NEWPORT RI 028404190 WILLIAM B HALL 4013412142 2013-05-10 1 CRAIG KLEIN P00734640 6177610600 2011 2016-02-24 21:20:13Z JANE GERETY RSM 100 OCHRE POINT AVENUE NEWPORT RI 028404190 107663140 0 X WWW.SALVE.EDU X 1934 RI AS AN ACADEMIC COMMUNITY THAT WELCOMES PEOPLE OF ALL BELIEFS, SALVE REGINA UNIVERSITY, A CATHOLIC INSTITUTION FOUNDED BY THE SISTERS OF MERCY, SEEKS WISDOM AND PROMOTES UNIVERSAL JUSTICE. THE UNIVERSITY, THROUGH TEACHING AND RESEARCH, PREPARES MEN AND WOMEN FOR RESPONSIBLE LIVES BY IMPARTING AND EXPANDING KNOWLEDGE, DEVELOPING SKILLS AND CULTIVATING ENDURING VALUES. THROUGH LIBERAL ARTS AND PROFESSIONAL PROGRAMS, STUDENTS DEVELOP THEIR ABILITIES FOR THINKING CLEARLY AND CREATIVELY, ENHANCE THEIR CAPACITY FOR SOUND JUDGMENT, AND PREPARE FOR THE CHALLENGE OF LEARNING THROUGHOUT THEIR LIVES. IN KEEPING WITH THE TRADITIONS OF THE SISTERS OF MERCY, AND RECOGNIZING THAT ALL PEOPLE ARE STEWARDS OF GOD'S CREATION, THE UNIVERSITY ENCOURAGES STUDENTS TO WORK FOR A WORLD THAT IS HARMONIOUS, JUST AND MERCIFUL. 35 34 1551 50 44505 0 4818972 3144022 77031442 81240881 368260 1755197 111406 395526 82330080 86535626 23458418 25128471 0 0 32523405 34629079 0 0 1178772 22981659 23427499 78963482 83185049 3366598 3350577 153053459 147737068 55326525 50410458 97726934 97326610 X AS AN ACADEMIC COMMUNITY THAT WELCOMES PEOPLE OF ALL BELIEFS, SALVE REGINA UNIVERSITY, A CATHOLIC INSTITUTION FOUNDED BY THE SISTERS OF MERCY, SEEKS WISDOM AND PROMOTES UNIVERSAL JUSTICE. THE UNIVERSITY, THROUGH TEACHING AND RESEARCH, PREPARES MEN AND WOMEN FOR RESPONSIBLE LIVES BY IMPARTING AND EXPANDING KNOWLEDGE, DEVELOPING SKILLS AND CULTIVATING ENDURING VALUES. THROUGH LIBERAL ARTS AND PROFESSIONAL PROGRAMS, STUDENTS DEVELOP THEIR ABILITIES FOR THINKING CLEARLY AND CREATIVELY, ENHANCE THEIR CAPACITY FOR SOUND JUDGMENT, AND PREPARE FOR THE CHALLENGE OF LEARNING THROUGHOUT THEIR LIVES. IN KEEPING WITH THE TRADITIONS OF THE SISTERS OF MERCY, AND RECOGNIZING THAT ALL PEOPLE ARE STEWARDS OF GOD'S CREATION, THE UNIVERSITY ENCOURAGES STUDENTS TO WORK FOR A WORLD THAT IS HARMONIOUS, JUST AND MERCIFUL. 0 0 72155380 25128471 81240881 SALVE REGINA UNIVERSITY (THE "UNIVERSITY"), LOCATED IN NEWPORT, RHODE ISLAND, IS A SMALL COMPREHENSIVE CATHOLIC UNIVERSITY WHICH OPENED IN 1947 AND IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES. THE UNIVERSITY WAS FOUNDED BY AND CONTINUES TO BE SPONSORED BY THE SISTERS OF MERCY. THE UNIVERSITY ENROLLS APPROXIMATELY 2,500 MEN AND WOMEN IN A VARIETY OF ACADEMIC PROGRAMS. THE UNIVERSITY'S STUDENT POPULATION IS PREDOMINANTLY FROM THE NORTHEAST REGION OF THE UNITED STATES. THE UNDERGRADUATE PROGRAMS ARE BASED ON THE LIBERAL ARTS. THE UNIVERSITY OFFERS ASSOCIATES, BACCALAUREATE, MASTER DEGREES, A CERTIFICATE OF ADVANCED GRADUATE STUDY AND A PH.D. IN HUMANITIES. 72155380 1 1 0 1 0 0 1 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 1 237 0 1 1551 1 1 1 0 0 0 0 1 1 0 0 0 0 X 35 34 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 RI X X MICHAEL N GRANDCHAMP 4013412142 C/O SALVE REGINA UNIVERSITY 100 NEWPORT RI 02840 LILY BENTAS 1.00 X 0 0 0 NORMAN BERETTA 1.00 X 0 0 0 FREDERICK BUTLER 1.00 X 0 0 0 LINDORA CABRAL RSM 1.00 X 0 0 0 PETER CROWLEY 1.00 X 0 0 0 MARY ANN DILLON RSM 1.00 X 0 0 0 JOSEPH DISTEFANO 1.00 X X 0 0 0 NOREEN DREXEL 1.00 X 0 0 0 CHRISTINE KAVANAGH RSM 1.00 X 0 0 0 VICTORIA ALMEIDA 1.00 X 0 0 0 MARIE LANGLOIS 1.00 X 0 0 0 GLORIA LINCOURT 1.00 X 0 0 0 RITA MUNROE DEMAYO 1.00 X 0 0 0 CHERYL MROZOWSKI 1.00 X 0 0 0 MARYPATRICIA MURPHY RSM 1.00 X X 0 0 0 DAVID NELSON 1.00 X 0 0 0 J TIMOTHY O'REILLY 1.00 X 0 0 0 NUALA PELL 1.00 X 0 0 0 PETER RECTOR 1.00 X 0 0 0 DONALD REEFE 1.00 X 0 0 0 JAMES SALOME 1.00 X 0 0 0 DEBORAH SMITH 1.00 X 0 0 0 DAVID BAZARSKY 1.00 X 0 0 0 HOWARD SUTTON 1.00 X 0 0 0 KENNETH WALKER 1.00 X 0 0 0 DAVID WALLACE 1.00 X 0 0 0 ANTHONY BAUDANZA 1.00 X 0 0 0 GEORGE CARNEY 1.00 X 0 0 0 TIMOTHY FLANIGAN 1.00 X 0 0 0 JOHN MCGINTY 1.00 X 0 0 0 JANET ROBINSON 1.00 X X 0 0 0 THOMAS RODGERS 1.00 X 0 0 0 BISHOP THOMAS TOBIN 1.00 X 0 0 0 JANE GERETY RSM 40.00 X X 0 0 63893 CONFERENCE FOR MERCY HIGHER EDUCATI 1.00 X 0 0 0 WILLIAM HALL 40.00 X 228809 0 52735 M THERESE ANTONE RSM 40.00 X 0 0 52030 DEAN DE LA MOTTE 40.00 X 186377 0 31235 MICHAEL SEMENZA 40.00 X 197511 0 29240 LAURA MCPHIE OLIVEIRA 40.00 X 149911 0 30373 MICHAEL N GRANDCHAMP 40.00 X 129963 0 59566 THOMAS BRENNAN 40.00 X 128469 0 21990 TRACI WARRINGTON 40.00 X 115207 0 13880 LAURA O'TOOLE 40.00 X 110630 0 21910 1246877 0 376852 22 0 1 0 ATRION NETWORKING CORPORATION PO BOX 970058 BOSTON MA 022970058 NETWORK CONSULTING 797210 ELLUCIAN 62814 COLLECTIONS CTR DR CHICAGO IL 606930628 COMPUTER SOFTWARE CONSULTING 624375 ADVANCED BUILDING CONCEPTS 1077 AQUIDNECK AVE SUITE A MIDDLETOWN RI 02840 GENERAL CONSTRUCTION CONTRACTOR 418333 COX COMMUNICATIONS PO BOX 182318 COLUMBUS OH 43218 VOICE, IP, CABLE SERVICES 375324 KOREL CONTROLS INC 1 HARRY STREET CRANSTON RI 02807 HVAC CONTRACTOR 214767 12 343495 1116390 1684137 149421 3144022 TUITION 611710 64751023 64751023 ROOM 611710 9786291 9786291 MEAL PLAN 611710 4340001 4340001 FEES 611710 2363566 2363566 81240881 794232 557 793675 173760 173760 1003499 892842 110657 110657 43948 66709 20912182 20124977 787205 787205 787205 76600 343495 109695 -33095 -33095 BOOKSTORE 900099 97690 97690 VENDING/LAUNDRY 900099 43165 43165 PCARD REBATE 900099 27722 27722 149387 149387 317964 86535626 81240881 44505 2106218 24788956 24788956 339515 339515 1349495 451979 771400 126116 26159375 21844753 3725605 589017 1345030 1032302 269820 42908 3806006 3141789 536366 127851 1969173 1570444 344021 54708 32742 32742 117835 117835 100000 100000 134785 134785 1941335 1494470 433230 13635 160762 160762 409020 71100 337920 1755476 1062981 692495 2896114 2385512 486794 23808 1067194 767441 284220 15533 1661407 1646775 13973 659 5998432 5160847 799834 37751 673392 576316 92701 4375 FOOD SERVICES 2717395 2716306 1089 SPECIAL PROJECTS/EVENTS 1206025 964601 210899 30525 SUPPLIES 991605 874892 103961 12752 PRINTING & PUBLICATIONS 396632 177908 173216 45508 1167348 790946 322776 53626 83185049 72155380 9850897 1178772 203113 333179 5307561 6753642 1799655 1327830 1186649 1391949 2244014 2030649 30160 43099 378891 422397 174104388 84934074 91248971 89170314 21841554 22413566 21359643 19756228 7453248 4094215 153053459 147737068 7665243 7198513 41075866 37320000 1670400 1593600 4915016 4298345 55326525 50410458 X 82442275 85256265 7985779 4470573 7298880 7599772 97726934 97326610 153053459 147737068 X 3350577 -3750901 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 100000 0 0 100000 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE UNIVERSITY RETAINS CONSULTANTS TO HELP THE UNIVERSITY UNDERSTAND THE INNER WORKINGS OF THE FEDERAL LEGISLATIVE BRANCH OF THE GOVERNMENT. THE CONSULTANTS HELP PROVIDE KNOWLEDGE OF POTENTIAL FUNDING OPPORTUNITIES AND HOW BEST TO TAKE ADVANTAGE OF THOSE FUNDING OPPORTUNITIES AND FURTHER THE MISSION OF THE UNIVERSITY. X 1 0.00 1 0 0 1 1 0.00 0 43715000 3081000 -722000 257000 1424000 44393000 36099000 3464000 5815000 255000 1408000 43715000 33535000 264000 4001000 257000 1444000 36099000 41086000 1268000 -7080000 265000 1474000 33535000 0.77360 0.17120 0.05520 0 0 6953248 6953248 130056485 58107868 71948617 32581323 26253222 6328101 4513332 572984 3940348 89170314 MULTI-STRATEGY HEDGE FUNDS 6581756 F FIXED INCOME SECURITIES 5213305 F CASH EQUIVALENTS 680940 F EMERGING MARKETS DEBT 1922798 F EMERGING MARKETS HEDGED EQUITY 1771126 F DOMESTIC HEDGE EQUITY 3586303 F 19756228 STUDENT DEPOSITS 2462608 REFUNDABLE ADVANCES - GOVERNMENT 1656290 OBLIGATIONS UNDER CAPITAL LEASE 179447 4298345 86535626 83185049 3350577 -1920108 -1830793 -3750901 -400324 59607837 -1920108 -828258 -2748366 62356203 134785 24044638 24179423 86535626 60008163 1002537 1002537 59005626 134785 24044638 24179423 83185049 EXPLANATION OF EASEMENTS ENFORCEMENT POLICIES: PART II, LINE 5: THE UNIVERSITY ENTERED INTO A FIFTY YEAR EASEMENT WITH THE RHODE ISLAND HISTORIC PRESERVATION SOCIETY IN EXCHANGE FOR A GRANT INTENDED TO HELP DEFRAY THE EXTERIOR RESTORATION OF OCHRE COURT. OCHRE COURT, AN ARCHITECTURALLY SIGNIFICANT STRUCTURE, IS USED TO HOUSE UNIVERSITY ADMINISTRATION. THE NATURE OF THE EASEMENT IS SUCH THAT THE UNIVERSITY MUST KEEP THE EXTERIOR INTACT AND CANNOT MODIFY SAID EXTERIOR WITHOUT THE EXPRESS APPROVAL OF THE RI HISTORIC PRESERVATION SOCIETY. IN ADDITION, SAID STRUCTURE'S EXTERIOR MUST BE ALLOWED TO BE VIEWED BY THE GENERAL PUBLIC. NO MODIFICATIONS HAVE BEEN MADE SINCE THE RESTORATION NOR HAS PUBLIC ACCESS BEEN BLOCKED. DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: THE ORGANIZATION MAKES NO MENTION OF THE EASEMENT IN ITS FINANCIAL STATMENTS. THE EASEMENT IS BETWEEN THE ORGANIZATION AND THE STATE OF RHODE ISLAND AND STIPULATES THAT NO DEMOLITION OR ALTERATION CAN BE MADE TO THE EXTERIOR OF OCHRE COURT, LOCATED IN NEWPORT, RI. THE ORGANIZATION IS AWARE OF THE EASEMENT AND NO CHANGES HAVE BEEN MADE TO THE EXTERIOR THUS THERE IS NO DEVOTED STAFF FOR MONITORING, INSPECTING AND/OR ENFORCEMENT OF THE EASEMENT. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY USES THE ENDOWMENT FUNDS STRICTLY IN ACCORDANCE WITH DONOR INTENTION. THE MAJORITY OF PERMANENT ENDOWMENT IS HELD FOR SCHOLARSHIP, TEACHING, AND PROGRAM EXPENSES. A SMALL PORTION OF THE PERMANENT ENDOWMENT IS FOR STUDENT RELATED ACTIVITIES SUCH AS ATHLETIC PROGRAMS. THE UNRESTRICTED ENDOWMENT IS KEPT IN FINANCIAL RESERVES TO BE USED AT THE BOARD OF TRUSTEES DISCRETION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE UNIVERSITY HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS ITS ONLY SIGNIFICANT TAX POSITION; HOWEVER, THE UNIVERSITY HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE UNIVERSITY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE UNIVERSITY'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON EXTINGUISHMENT OF DEBT -1,830,793. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 109,695. RENTAL EXPENSES 892,842. LOSS ON EXTINGUISHMENT OF DEBT -1,830,795. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 24,044,638. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 109,695. RENTAL EXPENSES 892,842. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 24,044,638. 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 NON-DISCRIMINATORY POLICY STATEMENT IS INCLUDED IN ALL PUBLIC ANNOUNCEMENTS AND PUBLICATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL GOVERNMENT FUNDS (TITLE IV) TO BE USED IN THE STUDENT FINANCIAL AID PROGRAM. THE FUNDS RECEIVED INCLUDE PELL GRANTS, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY AND PARTICIPATION IN THE FEDERAL DIRECT LOAN PROGRAMS (SUBSIDIZED STAFFORD, UNSUBSIDIZED STAFFORD, PARENT PLUS LOANS). IN ADDITION, THE UNIVERSITY RECEIVED AN APPROPRIATION FROM THE FEDERAL GOVERNMENT FOR USE IN THE REHABILITATIVE SERVICES GRADUATE DEPARTMENT. ALL GRANTS ARE REVIEWED, EVALUATED AND REPORTED (A-133) BY THE UNIVERSITY'S INDEPENDENT AUDITOR, MAYER HOFFMAN MCCANN PC. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 13861983 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 19450 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 18200 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 245365 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 15850 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 9850 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 11600 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION SCHOLARSHIPS TO STUDENTS STUDYING ABROAD 19200 0 0 0 0 0 0 14201498 0 14201498 EUROPE (INCLUDING ICELAND & GREENLAND) 31 245365 DIRECT REDUCTION OF TUITION FMV EAST ASIA AND THE PACIFIC 2 19450 DIRECT REDUCTION OF TUITION FMV MIDDLE EAST AND NORTH AFRICA 1 11600 DIRECT REDUCTION OF TUITION FMV SUB-SAHARAN AFRICA 2 15850 DIRECT REDUCTION OF TUITION FMV SOUTH AMERICA 1 18200 DIRECT REDUCTION OF TUITION FMV SOUTH ASIA 1 9850 DIRECT REDUCTION OF TUITION FMV RUSSIA & THE NEWLY INDEPENDENT STATES 2 19200 DIRECT REDUCTION OF TUITION FMV 1 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: ELIGIBILITY FOR NEED-BASED FINANCIAL AID IS DETERMINED BY FEDERAL DEPARTMENT OF EDUCATION REGULATIONS AND UNIVERSITY POLICIES GOVERNING FINANCIAL AID PROGRAMS. USING THE INFORMATION YOU PROVIDED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE CSS PROFILE AND OTHER REQUIRED DOCUMENTATION, THE OFFICE OF FINANCIAL AID WILL CALCULATE THE AMOUNT OF FAMILY RESOURCES YOU AND YOUR PARENT(S) ARE EXPECTED TO CONTRIBUTE TOWARDS YOUR EDUCATIONAL COSTS. THESE RESOURCES, KNOWN AS THE EXPECTED FAMILY CONTRIBUTION (EFC), ARE SUBTRACTED FROM A STANDARD BUDGET OF EDUCATIONAL EXPENSES, OR COST OF ATTENDANCE. THE COST OF ATTENDANCE INCLUDES DIRECT COSTS, FOR WHICH YOU RECEIVE A BILLING STATEMENT (TUITION, FEES AND ON-CAMPUS ROOM AND BOARD) AS WELL AS ESTIMATED INDIRECT COSTS NOT BILLED TO YOU BY THE UNIVERSITY (BOOKS, SUPPLIES, PERSONAL EXPENSES, TRANSPORTATION AND OFF-CAMPUS ROOM AND BOARD). THE DIFFERENCE BETWEEN THE EXPECTED FAMILY CONTRIBUTION (EFC) AND THE COST OF ATTENDANCE (COA) IS YOUR MAXIMUM ELIGIBILITY FOR NEED-BASED ASSISTANCE. TO REMAIN ELIGIBLE FOR FEDERAL, STATE AND INSTITUTIONAL FINANCIAL AID, A STUDENT MUST MEET THE MINIMUM REQUIREMENTS OF SATISFACTORY ACADEMIC PROGRESS AS PUBLISHED IN THE UNDERGRADUATE CATALOG. GOVERNERS BALL 289240 246520 42720 58708 GOLF OUTING 130855 96975 33880 50987 420095 343495 76600 109695 109695 -33095 1 SCHOLARSHIPS/GRANTS 1664 23502811 FMV SCHOLARSHIP SERVING TO REDUCE TUITION CHARGED TO STUDENTS FEDERAL SCHOLARSHIPS/GRANTS/AID 533 1286145 FMV SCHOLARSHIP SERVING TO REDUCE TUITION CHARGED TO STUDENTS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ELIGIBILITY FOR NEED-BASED FINANCIAL AID IS DETERMINED BY FEDERAL DEPARTMENT OF EDUCATION REGULATIONS AND UNIVERSITY POLICIES GOVERNING FINANCIAL AID PROGRAMS. USING THE INFORMATION YOU PROVIDED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), THE CSS PROFILE AND OTHER REQUIRED DOCUMENTATION, THE OFFICE OF FINANCIAL AID WILL CALCULATE THE AMOUNT OF FAMILY RESOURCES YOU AND YOUR PARENT(S) ARE EXPECTED TO CONTRIBUTE TOWARDS YOUR EDUCATIONAL COSTS. THESE RESOURCES, KNOWN AS THE EXPECTED FAMILY CONTRIBUTION (EFC), ARE SUBTRACTED FROM A STANDARD BUDGET OF EDUCATIONAL EXPENSES, OR COST OF ATTENDANCE. THE COST OF ATTENDANCE INCLUDES DIRECT COSTS, FOR WHICH YOU RECEIVE A BILLING STATEMENT (TUITION, FEES AND ON-CAMPUS ROOM AND BOARD) AS WELL AS ESTIMATED INDIRECT COSTS NOT BILLED TO YOU BY THE UNIVERSITY (BOOKS, SUPPLIES, PERSONAL EXPENSES, TRANSPORTATION AND OFF-CAMPUS ROOM AND BOARD). THE DIFFERENCE BETWEEN THE EXPECTED FAMILY CONTRIBUTION (EFC) AND THE COST OF ATTENDANCE (COA) IS YOUR MAXIMUM ELIGIBILITY FOR NEED-BASED ASSISTANCE. TO REMAIN ELIGIBLE FOR FEDERAL, STATE AND INSTITUTIONAL FINANCIAL AID, A STUDENT MUST MEET THE MINIMUM REQUIREMENTS OF SATISFACTORY ACADEMIC PROGRESS AS PUBLISHED IN THE UNDERGRADUATE CATALOG. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 WILLIAM HALL 228358 0 0 0 451 0 30073 0 22662 0 281544 0 0 0 DEAN DE LA MOTTE 185926 0 0 0 451 0 10564 0 20671 0 217612 0 0 0 MICHAEL SEMENZA 190360 0 0 0 7151 0 20833 0 8407 0 226751 0 0 0 LAURA MCPHIE OLIVEIRA 149482 0 0 0 429 0 16560 0 13813 0 180284 0 0 0 MICHAEL N GRANDCHAMP 129963 0 0 0 0 0 7032 0 52534 0 189529 0 0 0 THOMAS BRENNAN 128469 0 0 0 0 0 6894 0 15096 0 150459 0 0 0 PART I, LINE 1A THE PRESIDENT AND CHANCELLOR ARE ALLOWED USE OF A RESIDENCE ON CAMPUS FOR BOTH PERSONAL AND UNIVERSITY RELATED BUSINESS USE. ALSO, BY CONTRACT, THE CHANCELLOR IS A MEMBER OF A LOCAL SOCIAL CLUB AND COUNTRY CLUB FOR WHICH THE UNIVERSITY IS RESPONSIBLE FOR THE PAYMENT OF DUES. BOTH CLUBS CAN BE USED FOR BOTH PERSONAL AND UNIVERSITY RELATED BUSINESS USE. LASTLY, THE PRESIDENT AND CHANCELLOR HAVE AN INDIVIDUAL WHO PERFORMS HOUSEKEEPING SERVICES IN THEIR RESIDENCE AND AN INDIVIDUAL WHO WILL DRIVE THEM TO UNIVERSITY FUNCTIONS. THESE BENEFITS ARE NOT TREATED AS TAXABLE COMPENSATION. SUPPLEMENTAL INFORMATION PART III PART II: THE UNIVERSITY WAS FOUNDED BY THE SISTERS OF MERCY AND HAS EMPLOYEES WHO ARE AFFILIATED WITH THIS RELIGIOUS ORDER. BECAUSE OF THE NATURE OF THE ORDER AND THE POVERTY VOWS TAKEN BY SISTERS LISTED ON FORM 990, PART VII, W-2 EARNINGS ARE NOT REPORTED AS THESE EMPLOYEES ARE NOT DIRECTLY TAXABLE DUE TO RELIGIOUS AFFILIATION. RATHER, THEIR COMPENSATION IS MADE PAYABLE PRIMARILY TO THE SISTERS OF MERCY AND IT IS THE ORDER THAT DETERMINES WHAT PORTION THE EMPLOYEES WILL RECEIVE. TOTAL COMPENSATION TO THE SISTERS OF MERCY TOTALED $655,100 FOR THE 2011 CALENDAR YEAR OF WHICH THE PRESIDENT AND CHANCELLOR WERE A PART OF. RI HEALTH AND EDUCATIONAL BUILDING CORPORATION 521300173 762243TP8 2006-07-26 6000000 RENOVATION OF BUILDINGS 0 0 1 RI HEALTH AND EDUCATIONAL BUILDING CORPORATION 521300173 2011-12-19 32980000 CURRENT REFUND OF 3 PRIOR ISSUES (1999, 2002A, 2002B) 0 0 0 6000000 100242 5899758 2007 0 0 1 1 32980000 657590 32322410 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 X PART I: DURING 2006, THE UNIVERSITY ENTERED INTO A TAX EXEMPT DEBT ARRANGEMENT THROUGH RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION (RIHEBC). THIS ARRANGEMENT INCLUDED A POOL OF RHODE ISLAND CATHOLIC SCHOOLS WHO ALSO PARTICIPATED IN THE DEBT OFFERING WHICH TOTALED $17,500,000. THE UNIVERSITY'S PORTION OF THE POOL WAS $6,000,000. THE ISSUE, DATED JULY 26, 2006 WAS A VARIABLE RATE DEBT OFFERING THAT QUALIFIED UNDER SECTION 501(C)(3) NON-HOSPITAL BONDS. THE UNIVERSITY UTILIZED SAID PROCEEDS SOLELY FOR CAPITAL EXPENDITURE PURPOSES. SPECIFICALLY, THE FINANCING ASSISTED IN THE RENOVATION OF THREE ACADEMIC FACILITIES. THE MAJOR PORTION OF THE DEBT PROCEEDS WENT INTO THE INTERIOR RENOVATION OF THE ANTONE CENTER FOR THE ARTS. ALSO, SMALLER PORTIONS WERE USED TO HELP WITH THE EXTERIOR RESTORATION OF MCAULEY HALL AND ANGELUS HALL. ALL THREE FACILITIES DO NOT HAVE ANY PRIVATE BUSINESS USE. LASTLY, ALL PROCEEDS WERE EXPENDED WITHIN 15 MONTHS OF THE DATE OF ISSUE. DURING 2011, THE UNIVERSITY ENTERED INTO ANOTHER TAX EXEMPT DEBT ARRANGEMENT THROUGH THE RHODE ISLAND HEALTH AND EDUCATION BUILDING CORPORATION (RIHEBC). THE TOTAL DEBT OFFERING TOTALED $32,980,000. THE ISSUE, DATED DECEMBER 19, 2011 WAS A FIXED RATE DEBT OFFERING THAT QUALIFIED UNDER SECTION 501(C)(3) NON-HOSPITAL BONDS. THIS ENTIRE OFFERING WAS A PRIVATE PLACEMENT WITH CENTURY BANK LOCATED IN MEDFORD, MASSACHUSETTS. THE UNIVERSITY UTILIZED SAID PROCEEDS (PLUS THE DEBT SERIVCE RESERVE AND PRINCIPAL/INTEREST DEPOSIT ACCOUNTS) SOLELY FOR THE REFINANCING OF THREE EXISTING FIXED RATE DEBT OFFERINGS TO ACHIEVE A MORE FAVORABLE INTEREST RATE. PROCEEDS FROM THE THREE ORIGINAL OFFERINGS, ONE FROM 1999 AND TWO FROM 2002, WERE USED FOR A NUMBER OF DIFFERENT PURPOSES FROM DORMITORY CONSTRUCTION, LIBRARY CONSTRUCTION, RECREATION CENTER CONSTRUCTION, DORMITORY RENOVATION, AND PROPERTY PURCHASES FOR DORMITORY AND ADMIN. USE. IN EACH INSTANCE, ALL FACILITIES INVOLVED DO NOT HAVE ANY PRIVATE BUSINESS USE. LASTLY, ALL PROCEEDS WERE EXPENDED WITH 3 MONTHS OF THE DATE OF ISSUE. GEORGE ANTONE BROTHER OF CHANCELLOR 87564 EMPLOYMENT 0 ALLEN ANTONE SISTER-IN-LAW OF CHANCELLOR 27251 EMPLOYMENT 0 DANIEL KNIGHT BROTHER-IN-LAW OF CHANCELLOR 67843 EMPLOYMENT 0 KAREN DE LA MOTTE WIFE OF PROVOST 11800 EMPLOYMENT 0 PART IV: THE UNIVERSITY FOLLOWS A STRICT POLICY FOR HIRING FACULTY AND STAFF. IN ADDITION, SALVE REGINA UNIVERSITY IS AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER. CANDIDATES ARE HIRED INTO POSITIONS USING BOTH INTERNAL TRANSFERS AND EXTERNAL CANDIDATES. ALL EMPLOYEES ARE INTERVIEWED AND EVALUATED BASED UPON THE QUALIFICATIONS INCLUDED IN THE JOB DESCRIPTION FOR THE POSITION OFFERED. ALL EMPLOYEES ARE HIRED AT AN ARM'S LENGTH AND ARE FULLY QUALIFIED FOR THE POSITION THAT THEY FILL. X 10 149421 FMV ON DATE OF GIFT 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER PRESENTED ON SCHEDULE M, PART I REPRESENTS THE NUMBER OF CONTRIBUTIONS OF NON-CASH GIFTS. FORM 990, PART VI, SECTION A, LINE 6 FOR AN EXPLANATION, SEE THE RESPONSE TO FORM 990, PART VI, LINE 7B BELOW. FORM 990, PART VI, SECTION A, LINE 7B THE CORPORATE MEMBERSHIP SHALL CONSIST OF A SINGLE ENTITY AFFILIATED WITH OR SPONSORED BY THE INSTITUTE OF THE SISTERS OF MERCY OF THE AMERICAS, INC., WHICH IS CONFERENCE FOR MERCY HIGHER EDUCATION, INC., A MARYLAND NONSTOCK, NOT-FOR-PROFIT CORPORATION (THE "CMHE CORPORATION"). THE CMHE CORPORATION WAS INCORPORATED, AMONG OTHER THINGS, FOR THE PURPOSE OF MAINTAINING AND ENHANCING THE MERCY MISSION FOR THE VARIOUS SISTERS OF MERCY COLLEGES AND UNIVERSITIES THROUGHOUT THE UNITED STATES. AS SUCH, THE CMHE CORPORATION CAN BE A VALUABLE RESOURCE FOR THE UNIVERSITY FOR CONSULTATION AND COLLABORATION. NOTWITHSTANDING ANY PROVISION TO THE CONTRARY CONTAINED IN THE BY-LAWS, THE FOLLOWING MATTERS SHALL BE RESERVED POWERS AND SHALL BE AUTHORIZED ONLY BY A VOTE OF THE CORPORATE MEMBER: (A) THE LIQUIDATION, DISSOLUTION OR MERGER OF THE CORPORATION IN CONJUNCTION WITH THE BOARD OF TRUSTEES. (B) AMENDMENT OF THE ARTICLES OF INCORPORATION IN CONJUNCTION WITH THE BOARD OF TRUSTEES. (C) CONFIRMATION OF APPOINTMENT OF THE PRESIDENT SELECTED BY THE BOARD OF TRUSTEES. THE AFFAIRS OF SALVE REGINA UNIVERSITY SHALL BE MANAGED BY ITS BOARD OF TRUSTEES WHO SHALL EXERCISE ALL POWERS EXCEPT SUCH POWERS THAT ARE RESERVED FOR THE CORPORATE MEMBER IN ITEMS A-C LISTED ABOVE. FORM 990, PART VI, SECTION B, LINE 11 THE INFORMATION FOR THE IRS FORM 990 IS COMPILED BY SEVERAL MEMBERS OF UNIVERSITY ADMINISTRATION, PRIMARILY THE ASSOCIATE VP FOR FINANCE, VICE PRESIDENT FOR ADMINISTRATION/CFO, AND THE ASSOCIATE VP FOR HUMAN RESOURCES. THE REVIEW FUNCTION FOR THIS FILING RESTS WITH THE AUDIT COMMITTEE BY THE VIRTUE OF APPOINTMENT BY THE BOARD OF TRUSTEES. THE AUDIT COMMITTEE IS EMPOWERED TO ACT ON BEHALF OF THE FULL BOARD TO REVIEW AND APPROVE THE 990 PRIOR TO FILING. EACH TRUSTEE MEMBER RECEIVES A COPY OF THE FILING AFTER THE 990 IS APPROVED PRIOR TO FILING AND IS PRIVY TO THE MINUTES OF SAID AUDIT COMMITTEE MEETINGS. FORM 990, PART VI, SECTION B, LINE 12C AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES HELD IN OCTOBER EACH YEAR, ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES MUST COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE. THIS FORM DISCLOSES ANY DIRECT BUSINESS ASSOCIATIONS, FAMILY MEMBERS AND OR BUSINESS ASSOCIATIONS OF FAMILY MEMBERS THAT EXIST TO PUT THE UNIVERSITY ON NOTICE OF POTENTIAL CONFLICTS. THIS INFORMATION IS SHARED WITH SENIOR ADMINISTRATION FOR MONITORING ON A DAY TO DAY BASIS. IF A POTENTIAL CONFLICT OR QUESTION ARISES, IT SHOULD BE REPORTED TO THE PRESIDENT TO BE REVIEWED WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL OR FOR SUCH ACTION AS THE EXECUTIVE COMMITTEE MAY DETERMINE. IT IS THE RESPONSIBILITY OF THE EXECUTIVE COMMITTEE TO 1) CALL FOR ADDITIONAL INFORMATION, 2) ATTEMPT TO RESOLVE ANY CONFLICTS, 3) DETERMINE WHETHER A CONFLICT OF INTEREST IS PRESENT (UTILIZING LEGAL COUNSEL IF NECESSARY) AND REPORT IT TO THE BOARD OF TRUSTEES FOR APPROPRIATE ACTION. FORM 990, PART VI, SECTION B, LINE 15 IN MAY OF EACH YEAR, A QUESTIONNAIRE/EVALUATION IS SENT TO ALL TRUSTEES REGARDING THE PRESIDENT'S PERFORMANCE. THE EVALUATIONS ARE RETURNED TO THE CHAIRMAN OF THE BOARD AND THE RESULTS ARE REVIEWED AND TABULATED. EACH YEAR, THE CHAIRMAN OF THE BOARD CONTACTS THE ASSOCIATE VICE PRESIDENT OF HUMAN RESOURCES AND REQUESTS COMPENSATION SURVEY INFORMATION FOR THE PRESIDENTS AT COMPARABLE SCHOOLS (THE UNIVERSITY HAS A SET OF COHORT SCHOOLS SIMILAR IN SIZE AND NATURE THAT IS USED FOR BASIS OF COMPARISON). THE COMPENSATION COMMITTEE OF THE BOARD MEETS PRIOR TO THE JULY BOARD MEETING. THEY REVIEW THE RESULTS OF THE EVALUATIONS AND COMPENSATION SURVEY INFORMATION. THE COMMITTEE MAKES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES VOTES AND APPROVES THE COMPENSATION PACKAGE OFFERED TO THE PRESIDENT AT THE JULY BOARD MEETING (IN EXECUTIVE SESSION). THIS PROCESS IS FULLY DOCUMENTED. THE PRESIDENT MEETS WITH AND EVALUATES EACH OF THE VICE PRESIDENTS IN JUNE OF EACH YEAR. THE PRESIDENT OBTAINS COMPENSATION SURVEY INFORMATION FOR THE VICE PRESIDENTS FOR COMPARABLE SCHOOLS FROM THE ASSOCIATE VICE PRESIDENT FOR HUMAN RESOURCES (SIMILAR COHORT INSTITUTIONS AS THE PRESIDENT). THE PRESIDENT REPORTS TO THE BOARD OF TRUSTEES HER RECOMMENDATIONS FOR COMPENSATION FOR THE VICE PRESIDENTS AT THE JULY BOARD MEETING IN EXECUTIVE SESSION. THE BOARD REVIEWS THE COMPENSATION OFFERED TO EACH VICE PRESIDENT. THIS PROCESS IS FULLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 ANY REQUEST FOR PUBLIC INSPECTION REQUESTS FOR UNIVERSITY FORMS 1023, 990, 990-T AND/OR AUDITED FINANCIAL STATEMENTS ARE GRANTED WITHIN 5 BUSINESS DAYS AND CAN TAKE THE FORM OF ELECTRONIC COMMUNICATION, DIRECT PUBLIC INSPECTION, OR MAILING OF SAID DOCUMENTS TO THE INQUIRING PARTY. THE UNIVERSITY CURRENTLY PUBLISHES ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS ON ITS WEBSITE AT HTTP://WEB.SALVE.EDU/OFFICES/BUSINESS/FINANCE.CFM AS WELL. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.COM. THE GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,920,108. LOSS ON EXTINGUISHMENT OF DEBT -1,830,793. TOTAL TO FORM 990, PART XI, LINE 5: -3,750,901. SRU HOLDINGS LLC 100 OCHRE POINT AVENUE NEWPORT RI 02840 050259080 REAL ESTATE HOLDING CORP. RI 0 11838000 N/A STANFORD WHITE CASINO THEATRE 100 OCHRE POINT AVENUE NEWPORT RI 02840 300307655 HISTORIC BUILDING RESTORATION RI 501(C)(3) LINE 7 SALVE REGINA UNIVERSITY 1 CONFERENCE FOR MERCY HIGHER EDUCATION 8630 FENTON STREET 934 SILVER SPRING MD 20790 431973007 SPONSORSHIP MD 501(C)(3) LINE 1 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 PART II: SALVE REGINA UNIVERSITY HAS DIRECT CONTROL OF A RELATED TAX EXEMPT ORGANIZATION NAMED STANFORD WHITE CASINO THEATRE. THE PURPOSE OF THIS RELATED ORGANIZATION IS TO RESTORE AN ARCHITECTURALLY SIGNIFICANT THEATRE LOCATED IN NEWPORT, RI. THE NATURE OF CONTROL STEMS FROM THE RELATED ORGANIZATION'S BOARD OF TRUSTEES WHICH IS COMPOSED OF SALVE REGINA UNIVERSITY OFFICERS (PRESIDENT AND CFO), AND TWO SALVE REGINA UNIVERSITY TRUSTEES. THE BOARD MEMBERS SERVE AS A VOLUNTEER BOARD, RECEIVE NO COMPENSATION, AND ARE ADMINISTRATIVELY SEPARATE. THE MAIN PURPOSE OF THE BOARD IS TO OVERSEE THE FUNDRAISING AND RENOVATION OF THE ABOVE MENTIONED THEATRE. UPON COMPLETION OF THE RENOVATION, THE UNIVERSITY WILL BE ABLE TO USE THE FACILITIES FOR ARTISTIC PERFORMANCE. WITH THE COMPLETION OF THE RESTORATION AND BUILDING OPENING, THE UNIVERSITY IS NOW PARTY TO A 30 YEAR LEASE AGREEMENT WITH THE BUILDING OWNER, THE INTERNATIONAL TENNIS HALL OF FAME. TERMS OF THE LEASE GIVES THE UNIVERSITY EXCLUSIVE USE, MINUS 40 NAMED DATES PER YEAR AT THE OWNERS DISCRETION, IN EXCHANGE FOR A NOMINAL ANNUAL LEASE PAYMENT AND ASSUMPTION OF ALL OPERATING COSTS. IT IS NOW HOME TO THE SALVE REGINA UNIVERSITY THEATRE DEPARTMENT.