2013-05-13T07:34:06-05:00 2012-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2011-07-01 231413680 SALUS UNIVERSITY % DONALD KATES VP FOR FINANCE SALU 2157801400 8360 OLD YORK ROAD ELKINS PARK PA 19027 donald kates 2013-04-30 true 2155614200 2011 2016-02-24 21:20:13Z DR THOMAS LEWIS PRESIDENT 8360 OLD YORK RD ELKINS PARK PA 19027 37388280 false X WWW.SALUS.EDU X 1919 PA TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. 22 19 701 0 0 0 3692132 4690672 29080356 30165842 491029 466527 1638604 1032956 34902121 36355997 870310 886539 0 0 21786602 23777324 19324 17587 261212 11303044 12456804 33979280 37138254 922841 -782257 91453132 91000375 43890866 47152743 47562266 43847632 X THE MISSION OF SALUS UNIVERSITY IS TO EDUCATE HEALTH CARE PROFESSIONALS AND EDUCATORS, CONDUCT RESEARCH AND PROVIDE PATIENT CARE AND REHABILITATIVE SERVICES THAT ADVANCE THE WELFARE OF THE PUBLIC WORLDWIDE. true false 17828646 886539 27263672 Salus University is a four year post graduate educational institution. The University programs lead to doctoral degrees in Optometry and Audiology and Masters degrees in Medical Science, Low Vision Rehabilitation and others. The University enrolls approximately 960 students. During the year over 320 students earned degrees. 6092962 2890070 THE UNIVERSITY OPERATES two CLINICAL TEACHING FACILITies FOR THE VARIOUS PROGRAMS. APPROXIMATELY 300 STUDENTS ARE TRAINED ANNUALLY. THE CLINICS PROVIDE EYECARE and ear care to approximately 45,000 PATIENTS A YEAR. 4035928 12100 The UNIVERSITY receives federal, state and private grants to support basic research, clinical research, specialized training and student financial aid. These amounts are expended pursuant to the grant agreement. 134000 Haffer Center Fees 134000 27957536 true true false true false false false false true true false true false true true false true true false true false true true false false false false true true true true false false false false false false false false false false false false false false true true true false false true 183 0 true 701 true false false false false false false false false false false X 22 19 false false false false false false false true true false false true true true true true true true true false PA X DONALD KATES VP FOR FINANCE 2157801240 8360 OLD YORK RD ELKINS PARK PA 19027 X Dr Thomas L Lewis 29.0 X X 324731 0 21403 Jo Surpin 1.0 X 0 0 0 Dr Dan Abramowicz 1.0 X 0 0 0 Dr Barry J Farkas 1.0 X 0 0 0 Carl A Polsky 1.0 X 0 0 0 Dr I William Collins 1.0 X 0 0 0 Dr Mark Boas 1.0 X 15850 0 0 Dr Jean Pagani 35.0 X 99653 0 10226 Dr Craig Cassey 1.0 X 0 0 0 Dr Robert Cole 1.0 X 0 0 0 Mr Richard DePiano 1.0 X 0 0 0 Dr Christopher Dezzi 1.0 X 0 0 0 Dr David Dozack 1.0 X 0 0 0 Shirley Gregory 1.0 X 0 0 0 Keith D Ignotz 1.0 X 0 0 0 Leslie Littman 1.0 X 0 0 0 Joseph W Marshall III 1.0 X 0 0 0 Ian McWherter 1.0 X 0 0 0 Mindy M Posoff 1.0 X 0 0 0 Dr Elois G Rogers-Phillips 1.0 X 0 0 0 Jane Scaccetti 1.0 X 0 0 0 Dr Harvey Wolbransky 1.0 X 0 0 0 Donald Kates 39.0 X 151130 0 26220 Anthony DiStefano 35.0 X 212269 35853 Susan Oleszewski 35.0 X 178651 0 24389 Victor Hugo Bray Jr 35.0 X 148814 0 22593 Lorraine Lombardi 35.0 X 164500 0 20261 Linda Casser 35.0 X 179287 0 26130 Pierrette Dayhaw-Barker 35.0 X 162176 0 19878 Audrey Smith 35.0 X 190344 0 19338 1827405 0 226291 35 false true false FOX ROTHSCHILD LLP 2000 MARKET STREET 10TH FLOOR PHILADELPHIA PA 19103 LEGAL 282061 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 ACCOUNTING 151098 Caring Vision Inc 23 Lynam Lookout Drive NEWARK DE 19702 DVLPMNT MPH PROGRAM 73330 Bre Lynn Myers 309 West Second Street BIRDSBORO PA 19508 INSTRUCTOR 44180 AMIRAM SHAPIRO 1115 ROSE GLEN ROAD GLADWYNE PA 19035 INSTRUCTOR 39745 6 4597240 93432 4690672 TUITION 900099 27263672 27263672 PATIENT CARE - NET 900099 2890070 2890070 EDUCATION SALES AND SERVICES 900099 12100 12100 30165842 466527 466527 0 0 1439642 1014802 424840 424840 424840 0 0 0 17481 -17481 -17481 MANAGEMENT FEE - FOUNDATION 900099 255000 255000 HAFTER CENTER FEES 900099 134000 134000 BOOKSTORE COMMISSION 900099 26554 26554 210043 210043 625597 36355997 30299842 1365483 0 821665 821665 64874 64874 0 1084554 797505 287049 0 17061687 13499016 3445278 117393 1583661 1280197 292055 11409 2821586 2280909 520350 20327 1225836 990939 226066 8831 0 375892 50475 325417 72512 72512 22560 22560 17587 17587 0 0 0 796865 599072 193662 4131 422364 247437 171844 3083 0 710385 286159 424226 370771 341547 23173 6051 0 66545 63318 2754 473 0 0 1750624 1750624 392680 156505 236175 GRANT EXPENSE 4035928 4035928 0 0 EQUIPMENT RENTAL AND MAINTENAN 939966 405907 524647 9412 PRINTING AND PUBLICATIONS 359859 395337 -59587 24109 COST OF SALES 222377 222377 0 0 1917476 1418369 460701 38406 37138254 27957536 8919506 261212 0 0 8617041 9185160 0 0 3859143 1841975 0 0 0 0 13949287 14211166 104882 92290 239784 247704 58374747 26900299 30121775 31474448 0 30164 0 0 33611412 32385010 0 0 949808 1532458 91453132 91000375 1832974 2496380 0 0 6593688 6896072 10025000 9295000 0 0 0 0 1049533 1009260 0 0 24389671 27456031 43890866 47152743 X 40475078 36927435 3286541 3071472 3800647 3848725 47562266 43847632 91453132 91000375 X -782257 -2932377 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22560 22560 39138464 39161024 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 22560 20680 22560 22560 88360 250000 250000 250000 250000 1000000 1500000 19295567 40244 -261107 367871 18706833 15969601 71024 3812739 557797 19295567 14690431 71125 1807200 599155 15969601 18010487 386051 -3608680 97427 14690431 0.75000 0.18000 0.07000 false true true 2305370 2305370 39767722 26900299 12867423 15799999 11166649 15799999 501656 501656 31474448 INVESTMENT IN SUBSIDIARY 32385010 F 32385010 0 STUDENT LOANS 14437264 POST RETIREMENT BENEFITS 10926000 MISCELLANEOUS 2092767 27456031 36355997 37138254 -782257 -2932377 -2932377 -3714634 33333614 -4051517 -4051517 37385131 -1029134 -1029134 36355997 36929457 3051903 3051903 33877554 3260700 3260700 37138254 Endowment Funds Form 990, Schedule D, Part V The endowment funds are held by Pennsylvania College of Optometry Foundation, a related tax-exempt organization. The Pennsylvania College of Optometry 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 derecognized 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 Net Assets Form 990, Schedule D, Part XI, Line 8 Income from Foundation (1,226,402) AU Clinic - PEI Net Loss 435,585 Change in PEI Fund Balances (118,790) Change in Pension Accrual (2,022,770) ----------- Total Line 5 (2,932,377) =========== Reconciliation of Revenue Form 990, Schedule D, Part XII Line 2d: AU Clinic - PEI Income 435,585 Income (Loss) from Foundation (1,226,402) Scholarships (reclass to expense) (886,540) Other Non-operating (reclass to expense) (2,374,160) ---------- Total Line 2d (4,051,517) ========== Line 4b: Cost of Goods Sold (reclass to revenue) 14,331 Rent Expense (reclass to revenue) 1,014,802 --------- Total Line 4b 1,029,134 ========= Reconciliation of Expenses Form 990, Schedule D, Part XIII Line 2d: Rent Expense (reclass to revenue) 1,014,802 Cost of Goods Sold (reclass to revenue) 14,331 Change in Pension Accrual 2,022,770 ========= Total Line 2d 3,051,903 Line 4b: Scholarships 886,540 Other Non-operating (reclass to expense) 2,374,160 --------- Total Line 4b 3,260,700 ========= true true true true true true true false false false false false false false false true false true Schedule E, Line 3 THE UNIVERSITY HAS A WRITTEN POLICY ESTABLISHING ITS NON-DISCRIMINATION POLICY. IT IS PUBLISHED IN THE STUDENT HANDBOOK AND ON THE APPLICATION FOR ADMISSIONS. Schedule E, Line 6b THE UNIVERSITY RECEIVES FUNDING FROM GOVERNMENTAL AGENCIES FOR STUDENT TUITION ASSISTANCE IN ACCORDANCE WITH PROGRAMS SUCH AS SDS- SCHOLARSHIPS FOR DISADVANTAGED STUDENTS. East Asia and the Pacific 0 Program Services teaching 797 Europe (Including Iceland and Greenland) 22 Program Services TEACHING 200315 Middle East and North Africa 0 Program Services TEACHING 10742 22 22 211854 211854 SCHOLARSHIPS Sub-Saharan Africa 22 57081 check/wire FMV Scholarships South Asia 2 1950 check/wire FMV Scholarships East Asia/Pacific 1 5843 check/wire FMV false false false false false false Part I, Line 3, Column C In some programs, Salus contracts with individual local professionals to provide service to the program. These professionals will assist in instruction, translation and administration. X true The Stockade Consulting Group 650 FRANKLIN SUITE SUITE 201 SCHENECTADY NY 12305 FUND RAISER false 61430 17587 0 61430 17587 0 8360 Old York Road Elkins Park PA 19027 true SCHOLARSHIPS 242 821665 GRANTS AND ASSISTANCE IN THE UNITED STATES FORM 990, SCHEDULE I, PART I, LINE 2 The University provides scholarships to students matriculating at the University; therefore, all funds granted are used to defray the cost of tuition and no further monitoring of the grants is required. X true true X X false false false false false false false false false Dr Thomas L Lewis 308237 0 0 16494 11731 0 9672 0 346134 0 Donald Kates 151130 0 0 0 16548 0 9672 0 177350 0 Anthony DiStefano 212269 0 0 26181 9672 248122 Susan Oleszewski 178651 0 0 0 17941 0 6448 0 203040 0 Victor Hugo Bray Jr 148814 0 0 0 16145 0 6448 0 171407 0 Lorraine Lombardi 164500 0 0 0 0 0 13813 0 6448 0 184761 0 Linda Casser 179287 0 0 0 19682 0 6448 0 205417 0 Pierrette Dayhaw-Barker 162176 0 0 0 0 0 13430 0 6448 0 182054 0 Audrey Smith 190344 0 0 0 0 0 12890 0 6448 0 209682 0 Compensation Information Form 990, Schedule J, Part I Line 1 - The University pays for the President's country club fees. This fringe benefit is taxable to the President and properly substantiated. Salus University - Series 2007 231413680 70917PHG7 2007-06-28 12500000 Renovation of Optometry Clinic true true false 0 0 12500000 0 0 0 0 0 0 5175027 0 0 2011 true false true true false false true true false 0.01600 0.00000 0.01600 true false true false 0 false 0 true false SEE SCHEDULE O 0 FORM 990, PART III, LINE 2 In order to further its mission to be a health science university, Salus University, will be adding 3 new degree programs in the next two or three years. The programs are a PhD in Bio Science, a doctoral and masters in Occupational Therapy and a doctoral and masters in Speech & Language Pathology. FORM 990, PART VI, LINE 11 The University'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 electronic filing with the Internal Revenue Service. FORM 990, PART VI, LINE 12 Each officer, director, trustee and key employee of the University is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the University. The University 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. FORM 990, PART VI, LINE 15 The President is the organization's top management official. The President's compensation is determined by the executive committee of the board. In determining compensation, the Board relies upon comparability data of institutions similarly situated to Salus University. The deliberations to determine the President's Compensation are documented in the Board Committee's minutes. Compensation paid to other officers or key employees of the organization is determined by the President of the University in consultation with the Director of Human Resources. When necessary, they will utilize independent comparability data to benchmark a reasonable salary for these individuals. 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. Reconciliation of Net Assets Form 990, Part XI, Line 5 Income from Foundation (1,226,402) AU Clinic - PEI Net Loss 435,585 Change in PEI Fund Balances (118,790) Change in Pension Accrual (2,022,770) ----------- Total Line 5 (2,932,377) =========== SCHEDULE K, PART VI BOND ISSUE THE UNIVERSITY QUALIFIED FOR A THREE-YEAR TEMPORARY PERIOD FOR THE CONSTRUCTION PROJECT THAT WAS A PART OF THIS ISSUE. DUE TO UNANTICIPATED CIRCUMSTANCES BEYOND THE UNIVERSITY'S CONTROL IMPACTING CONSTRUCTION, including the economic downturn in 2008 and 2009, and certain subsurface issue on the property, the project is not scheduled to be completed until 11/2011. the university caused the unspent bond proceeds to be yield restricted upon the expiration of the three-year temporary period. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dr. Thomas L. Lewis TITLE:President HOURS:11 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jo Surpin TITLE:Chairperson HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dr. Barry J. Farkas TITLE:Second Vice Chair HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Carl A. Polsky TITLE:Treasurer HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dr. I. William Collins TITLE:Secretary HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Dr. Mark Boas TITLE:Trustee HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jane Scaccetti TITLE:Trustee HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Donald Kates TITLE:Vice President - Finance HOURS:1 PA College of Optometry Foundation 8360 old york road elkins park PA 19027 233030893 fundraising PA 501(C)(3) 11 Salus false Pennsylvania Ear Institute 8360 old york road elkins park PA 19027 202888384 healthcare PA 501(C)(3) 11 Salus false false false false false false false false false true false true true true true true false false true PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION K 255000 FMV PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION O 468419 FMV PENNSYLVANIA COLLEGE OF OPTOMETRY FOUNDATION Q 86447 FMV